Gopolang Moloko
1 minute read
19 Feb 2019
10:30 am

#TipsforTito from Twitter: What to expect from Mboweni’s budget speech

Gopolang Moloko

The finance minister's expected address has already seen various parties weighing in on their expectations.

Much will be revealed on Wednesday when Tito Mboweni delivers his maiden budget speech. Picture: Elmond Jiyane, GCIS

Finance Minister Tito Mboweni is expected to answer much-needed questions regarding the state of the country’s finances on Wednesday as he presents the 2019 budget speech.

The presentation, which is expected to be a challenging speech – due to the current backdrop of indebted state-owned enterprises, unemployment, and a struggling economy – has prompted many on social media to give what they think should be added to Mboweni’s speech on Wednesday.

Eskom needs billions and Mboweni is expected to outline how President Cyril Ramaphosa’s drastic measures, stated in the state of the nation address, to pull the power utility out of the troubled waters will be bankrolled.

Some on social media started on Monday this week tabling what they thould the minister should add to the presentation.

The #TakeBackTheTax campaign called on Mboweni to consider illegal cigarette trade as it cost treasury close to R8 billion a year in lost taxes.

Illegal cigarette trade was threatening over 10,000 jobs in tobacco farming including the livelihoods of over 30,000 dependents according to the open letter written to the finance minister.

Some called for the increase of the tax-free savings accounts and submitted their tips to Treasury.

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