Budget 2020: Still some good news to ponder amid economic doom and gloom
Our banking system is sound. Our foreign exchange-denominated debt is low and the flexible exchange rate is a shock absorber. So smile a little…
Mike Simpson has been in the media industry for 25-plus years. He writes on finance, the economy, general business, marketing, travel, lifestyle and motoring. Plus a bit of general news along the way. He’s travelled extensively (35 countries and counting) and his work has been published in Australia, South Africa, the UK, Hong Kong, Singapore, Morocco and many English-speaking African countries.https://www.thesouthafrican.com/author/mike-simpson/
Our banking system is sound. Our foreign exchange-denominated debt is low and the flexible exchange rate is a shock absorber. So smile a little…
Most taxes won’t change. But beware of possible increases in VAT, capital gains tax and no fiscal drag relief for personal income tax.
Not a happy Budget eve for the finance minister as domestic and global fears hit SA markets and our currency.
Vaping industry comprises smaller businesses that would be hard hit and could shed jobs, Vapour Products Association says.
The Institute of Risk Management’s annual risk report identifies three areas of the economy that require the finance minister’s full focus for the long term.
Many believe the scrapping of exchange controls would benefit the economy at a time when it desperately needs investment. But the minister may not be listening.
More support for young entrepreneurs, an emphasis on growing technology skills and faster payment are all on the wish list.
Tito Mboweni’s Twitter remarks may signal a coming crackdown by SARS on tax avoidance by ‘independent churches’.
The cynics say believing we can avoid an imminent credit rating downgrade is akin to believing in the Easter Bunny. But a tight Budget could just make it possible.
The possibility of boosting the fiscus by up to R35 billion may be too tempting for the finance minister to resist, even if raising VAT will be hugely unpopular.
The president believes a state bank is required and has charged the finance minister with developing a strategy. But many think it’s unviable and unnecessary.
He is known to be a man who is impatient with fools and inaction. But can the finance minister fire up the ruling party to accept the tough choices that need to be made?
Our finance minister will need to find new and less politically sensitive ways of increasing the country’s diminishing tax base.
Sovereign wealth funds are a well-accepted national investment mechanism. But the WEF warns of a lack of transparency and governance.
Trade union opposition is a certainty. But the nation’s increasingly unsustainable debt may see a freeze on salaries perks.
Black Friday specials gave November 2019 a retail sales boost, but the impact was felt in December, where disappointing sales figures contributed to a gloomy year overall.
Fake news detectives set the record straight on social media claims that the hit TV series predicted the outbreak way back in 1993.
Will China hit a debt brick wall if it continues to stimulate its virus-hit economy? If so, are we heading for a black swan event?
What is the future of brick-and-mortar retailing? Is the physical store in terminal decline; about to be replaced by a faceless and impersonal, but more cost- effective, online retailing environment? The messages are mixed.
Chinese visitors who have booked an SA holiday are, in any instances, being allowed to cancel without penalty because their government has banned leisure travel due to the coronavirus.
After struggling along for years as a member of the debt-ridden Edcon group, will CNA stores finally get a new lease of life?
Following a tumultuous period on the financial markets, a monetary injection by China’s central bank is calming investor fears around the impact of the coronavirus.
Sibanye-Stillwater CEO warns that West Africa, Australia and the Americas all look more appealing as a mining investment destination.
Despite the hysteria and political posturing around Brexit, there should be little impact on the SA economy for now.
Google searches for “corona beer virus” jumped 2 300% globally and Searches for “beer virus” jumped 744% in the same period.