What to expect from the budget speech this week: Eskom debt, tax hikes and more

Analysts, economists and business leaders have chimed in on what to expect from the 2023 budget speech this week Wednesday , including Eskom debt management, taxes, grants and more.

Prof Andre Roux, an economist at Stellenbosch Business School, said that a year ago, rolling blackouts were sporadic and irritating; today, load-shedding is pervasive and intrusive. Talk of taking on a substantial share of Eskom’s debt has been pervasive. During the finance minister’s medium-term budget policy statement last year, he said that the economy and public finances are most in danger from Eskom’s performance.

This means there is unlikely to be a VAT hike, or the introduction of a wealth tax, and the tax rates for personal income also aren’t expected to be shifted higher. Some have suggested that the best-case would be a rebate offered to households, deducted against any deductable income for all components – including installation – of solar equipment.

The so-called social wage will likely be increased to help the poor, Momentum said. This includes things like free water, free electricity, free schooling, the free university, free health services, social relief grant and other social grants.

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Eskom debt albatross hangs over this week's budget speech - TechCentralFinance minister Enoch Godongwana faces the task of incorporating a credible debt-relief plan for Eskom in the national budget while stabilising government finances.
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Eskom debt albatross hangs over SA's plans to stabilise budget | BusinessFinance Minister Enoch Godongwana faces the task of incorporating a credible debt-relief plan for Eskom in the national budget while stabilizing government finances as record blackouts weigh on the economy. | News24_Business _Business eskomsalaryshedding , 40000 employees at Eskom that cannot fix anything so let's start Salary shedding stage 2,3,4 30% of their salary stage 5,6 40% of their salary and see how quickly the problem is fixed or no more load shedding then we start governementsalaryshedding _Business Haybo where is this so called minister of electricity wena Flash/Thor you not doing your job babba wena moera wen _Business eskomsalaryshedding , the highest paid sector in the country and they cannot fix a thing or keep it running let try this: stage 2,3,4 30% salary cut. stage 5,6,7 40% salary cut. see how quickly they fix this problem! Then governmentsalaryshedding
Source: News24 - 🏆 4. / 80 Read more »