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Tito Mboweni increasing VAT is not politically palatable at moment - Economist

26 February 2020 7:41 AM
Tags:
Budget speech
economist
finance minister tito mboweni
Busisiwe Radebe looks at the different things that South Africans could hear from the finance minister's budget speech.

Finance Minister Tito Mboweni will deliver his budget speech on Wednesday.

The budget will give details of how the priorities set out during President Cyril Ramaphosa's State of the Nation Address will be funded.

RELATED: Mboweni will have to make tough political choices in Budget 2019 - economist

Bongani Bingwa speaks to Nedbank economist Busisiwe Radebe to give more insight on her expectations for the budget speech.

She says structural reforms is if the structure of the economy is changed.

You want to look at what is wrong with the economy and what needs to be done to fix the problem. We see that revenues have underperformed and we want to look at reasons why they have underperformed.

Busisiwe Radebe, Economist - Nedbank

The unemployment rate is one of the big reasons why revenue in South Africa has underperformed, she explains.

If you don't have a job, you don't have a salary and if you don't have a salary you cant pay tax. We have to do something about the economy and our unemployment rate is a structural issue.

Busisiwe Radebe, Economist - Nedbank

She says Mboweni might look at increasing VAT, however, she doesn't think that is politically palatable at the moment.

Listen below to the full conversation:


26 February 2020 7:41 AM
Tags:
Budget speech
economist
finance minister tito mboweni

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