After Godongwana’s shock VAT hike was blocked, a R58bn crater was left in the budget. With borrowing ruled out, he must cut spending, raise taxes, or scrap tax breaks. Tough choices lie ahead.
The scrapping of a surprise two percentage point VAT increase this week punched a R58bn hole in South Africa’s finances – the equivalent of the government’s planned spending on courts and prisons. With just three weeks before …
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