Finance minister Pravin Gordhan will deliver his 2017 Budget speech today at 14h00 – this is where you can watch the address, live.
Gordhan is under pressure to find an extra R28 billion in tax revenue – which is likely to come out of the pockets of South Africans who are already among the most heavily taxed people in the world.
The minister sits with a particular challenge, given the political backdrop his budget has to play out in front of – while being hit by both the macro- and micro-economic factors South Africa faces.
Politically, Gordhan has to balance the ANC’s new “radical transformation” rhetoric with more solid economic realities. Notably, Gordhan has to work to keep ratings agencies at bay, while limiting political push-back.
While analysts and economists do not expect hard-hitting tax changes – like and increase to VAT – but taxes which will put more pressure on the middle class and the wealthy are anticipated.
This includes a hike in the national fuel levy, and possibly holding back bracket adjustments which will impact fiscal drag. Other possible tax avenues may come from increased capital gains and sin taxes, and well as the introduction of new taxes.
A number of media groups and news channels will be streaming the budget speech live – you can watch the live stream below, or at any of these links:
If you prefer to read live updates on the budget, you can also follow the live coverage by following:
We will update the list of streams and live blogs as they become available.