On Wednesday Finance Minister Tito Mboweni said there would be no new income tax hikes this year because of the country’s weak economic outlook, which means you may have a little more to spend.
What does this mean for retailers?
Joanne Joseph spoke to Edcon CEO Grant Pattison to find out.
There was a huge sense of relief amongst retailers and retail investors as one could see on the JSE. There were some gifts from the minister that will be good for retail.— Grant Pattison, CEO - Edcon
Apart from not getting the VAT increase, the best piece of news was the above-inflation tax relief from the tax bracket. That will turn into cash almost instantly and will be in people's pockets. I am sure we are going to see it somewhere in retail— Grant Pattison, CEO - Edcon
Click on the link below to hear more...