Cecil Kilpin | November 2019 Newsletter

By |2019-11-22T16:42:52+02:00Nov 1st, 2019|Business, Finance + Economics, Goverment, Newsletter, Tax|

Medium Term Budget Policy Statement 2019 The 2019 MTBPS has been resented by Minister Tito Mboweni. His opening statement was a reference to the Aloe Ferox plant he brought to Parliament when presenting the February 2019 budget. “This little aloe is emerging from a long winter. During that winter, the ground became hard. The leaves fell from the trees and the air was bitterly cold. We toiled, hoping for better days. Our people became poorer. Some lost their jobs.” The above statement sums up his presentation. The key points are as follows: Economic growth is projected at 0.5 per cent for 2019, as long‐term growth estimates have fallen. As a result, revenue projections have been sharply reduced. Spending pressures continue to mount, led by the [...]