SA finance minister Nhlanhla Nene has indicated that come February 2015, we could see a rise in tax for middle to high income earners. SA is in serious debt, far past the 50% mark of debt to gdp- his strategy is to reduce government spend and increase taxes to scale back our debt ratio to an estimate 47%. Which is still far higher than most of our emerging market peers. All these strikes have to stop. The mining strike cost SA tax in excess of R100m of tax- cost lonmin R27bn, the unions know that this is leverage to get what they want. I am not saying they dont deserve increases, but not when the whole country has to lose ?? Our bank credit score decreases, we borrow more to sustain infrastructure etc etc.. What u think ?
Posted on: Fri, 24 Oct 2014 05:05:05 +0000
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