Budget 2021

Budget squeezing an already bled tax base – IRR

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Finance Minister Pravin Gordhan ahead of his 2017 Budget. (Photo: Matthew le Cordeur)
Finance Minister Pravin Gordhan ahead of his 2017 Budget. (Photo: Matthew le Cordeur)

Johannesburg – Finance Minister Pravin Gordhan’s Budget Speech lacked a plan for growth and austerity, said Gwen Ngwenya, chief operations officer at the Institute of Race Relations (IRR).

The IRR released a report on the National Budget, which was delivered by Gordhan in Parliament on Wednesday. It highlighted that government expenditure will continue to exceed revenue by a high margin, adding more pressure on an already burdened tax base.

“The Treasury’s plan is an exercise in extracting blood from a stone by squeezing an already over-bled tax base,” said Ngwenya.

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