Budget Speech 2016 – Roundup
My Money Matters | Written by Absa Staff Writer
24 April 2017
The anticipated Budget Speech 2016 brought interesting news and financial changes for South Africans. We’ve rounded up the most important outcomes to help you understand what this means for you and your pocket. This includes important points like personal tax, government expenditure and fuel levies as well as sin tax, healthcare and education.
Whilst far less austere than anticipated, the 2016 National Budget serves as a stark reminder that consumers will have to do more with less and financial discipline will be crucial in the year ahead as they deal with the rising cost of living.
Minister Pravin Gordhan’s 2016 National Budget has introduced the necessary fiscal constraints aimed at appeasing the global ratings agencies in the short term, and economists and market commentators have proclaimed it a superbly crafted budget. His speech centred on his pledge to reduce the budget deficit, targeting civil-servant expenditure and increasing certain wealth taxes to mitigate the risk of South Africa being downgraded to sub-investment grade status.
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Disclaimer: The advice contained on this blog is for general purposes only and does not take into account individual circumstances, objectives or financial needs. Accordingly, readers are advised to seek appropriate advice from licensed professionals prior to making any investment, or taking up a financial product or service.
