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Expect drastic decision in budget speech on funding free education – Gigaba

Joined
May 3, 2017
Messages
2,337
#1
https://www.news24.com/SouthAfrica/...ech-on-funding-free-education-gigaba-20180111

East London – Finance Minister Malusi Gigaba is feeling the pressure in his search for money to fund President Jacob Zuma's free higher education plan and has warned that drastic decisions must be expected in his February budget speech.

"The concern about funding is genuine given the fact that we have announced that there is a R51bn shortfall in the budget for this financial year. We had indicated that any additional budget programme would have to be funded in a way that does not breach the expenditure ceiling.

"Secondly, [we had indicated] that we would need to implement certain measures, both in terms of expenditure cuts and revenue enhancement, in order to take care of any additional budget pressure," he said.
 
Joined
May 3, 2017
Messages
2,337
#2
Time to start forex trading and buying into Dollars and shorting the Rand. Some of us will be stinking rich by the end of February.
 

xrapidx

Honorary Master
Joined
Feb 16, 2007
Messages
35,089
#4
Swear if the tax rates and **** keep going the way they're going I'm out of here.

For the first time I'm seeing friends on Facebook packing bags and leaving, about 10% have left in the past two years.
 

Hamster

Resident Rodent
Joined
Aug 22, 2006
Messages
29,293
#5
Wealth tax
Increase in dividend tax
Increase in CGT
VAT remains at 14%

EDIT: fixed CHAT....wtf is CHAT :D
 
Last edited:

Ryansr

Expert Member
Joined
Jul 22, 2012
Messages
3,258
#13
The population wants things for "FREE", so we as taxpayers will just have to pay for the "FREE". Radical Economic Transformation is a joke! :mad:
 
Joined
May 3, 2017
Messages
2,337
#14
The population wants things for "FREE", so we as taxpayers will just have to pay for the "FREE". Radical Economic Transformation is a joke! :mad:
It was promises made to them. Everyone will get free grants. Everyone will get free houses. Everyone will get free electricity. Everyone will get free water. Everyone will get free basic services. Everyone will get free medical treatment, and now, everyone will get free education. They're just living up to the expectations created back in 1994. No one ever thought anything through. It was all a spin, right from the onset, to get and keep voters.
 

thestaggy

Honorary Master
Joined
May 11, 2011
Messages
11,690
#15
I actually hope they raise VAT so the halfwits that made the most noise about free education can actually see how ''free'' things work in the real world.
 

Tander

Expert Member
Joined
Jun 8, 2008
Messages
4,842
#16
I actually hope they raise VAT so the halfwits that made the most noise about free education can actually see how ''free'' things work in the real world.
They' will never raise VAT; as has been mentioned earlier, the haves will get hit harder. @Hamster probably has it spot on:

Wealth tax
Increase in dividend tax
Increase in CHAT
VAT remains at 14%
 

JayM

Expert Member
Joined
Oct 30, 2005
Messages
1,678
#17
They' will never raise VAT; as has been mentioned earlier, the haves will get hit harder. @Hamster probably has it spot on:
They can't do a wealth tax as it's completely unworkable. It will be income & dividend tax increases.
 

f2wohf

Honorary Master
Joined
Apr 15, 2014
Messages
14,700
#19
They can't do a wealth tax as it's completely unworkable. It will be income & dividend tax increases.
Why would it be?

You just need the property valuations (the municipalities already have that) + the banks, stock accounts and access to CIPC's database.

Not really hard.
 

Messugga

Executive Member
Joined
Sep 4, 2007
Messages
9,974
#20
Haven't seen anybody mention a graduate tax, which I think is very possible, if not likely. That way they can sell it as "you benefited from tertiary education, now you need to pay so that others can as well."

Queue anybody with a tertiary qualification being levied with an additional tax.
 
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