Allan Gray’s view on Budget 2019

– Focus shifts to restoring credibility

Today’s media is filled with an array of comments and analysis of the Budget Speech of yesterday.

According to Carla Rossouw, tax manager at Allan Gray, the Finance Minister Tito Mboweni’s maiden Budget Speech didn’t deliver any major punches such as 2018’s surprise 1% VAT hike, but instead sought to acknowledge the tough economic situation facing taxpayers and restore confidence in the credibility of the South African Revenue Service (SARS).

“Times are tough. The economic landscape in South Africa has been plagued by misfortune in the form of slow growth, wasteful expenditure and corruption, and the woes at SARS to name a few,” says Rossouw, adding that policy uncertainty does not instil the required confidence to attract foreign investment.

Click here to read more about what she shares about the factors that contributed to the more measured Budget this year.

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