Many underestimated finance minister Tito Mboweni’s resolve going into the 2021 budget. While most expected him to stick broadly to his fiscal consolidation plan, nobody thought he would cut company taxes while reining in the welfare bill — and this in an election year.
Though Mboweni has deeply offended the Left with his unapologetic stance on the welfare cuts, he emerged stronger late last week thanks to a rare public endorsement from President Cyril Ramaphosa...A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
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