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The residents of South Africa are much more responsible with their own money than the government is with it, which is why AfriForum believes that tax cuts should be presented today as part of the Minister of Finance, Enoch Godongwana’s budget speech. Moreover, economic growth has been lower than inflation in the past few years – and this is already putting serious financial pressure on households, which will only be further impoverished by a tax increase. 

AfriForum insists, more specifically, that tax brackets and tax credits (such as the tax credit on medical aids) must be adjusted in line with inflation, otherwise taxpayers are indirectly robbed of their rightful refunds. It is also necessary that value added tax (VAT) and fuel charges are left unchanged.

“Our members – and all taxpayers – are at a breaking point. It is now essential to make politically unpopular decisions for the sake of economic growth and well-being,” emphasises Boshoff.

He also maintains that President Cyril Ramaphosa made several unachievable promises during his last state of the nation speech and that no attempt should now be made to finance everything with tax increases.

Issued by AfriForum