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Cecil Kilpin | December 2018 Newsletter

By |2022-01-20T14:25:24+02:00December 7th, 2018|Finance + Economics, Goverment, Newsletter, Tax|

Economy Grows By 2.2% Good news to end 2018 as the South African economy grew by 2,2% quarter-on- in the third quarter of 2018, bringing to an end the country’s second recession since 1994. Higher contributions to growth in a number of industries – most notably in manufacturing, transport as well as finance and business services – were enough to lift economic growth back into positive territory. The rise in economic activity in the third quarter follows two consecutive quarters of negative growth, which is a widely recognised indicator of recession. The economy slumped by 2,6% in the first quarter of 2018 and a further 0,4% in the second quarter.   Key facts from the third quarter 2018 GDP release: Expenditure on GDP increased by [...]

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Cecil Kilpin | February 2018 Newsletter

By |2022-01-21T10:24:50+02:00February 1st, 2018|Goverment, Newsletter, Tax|

Budget Preview Minister Gigaba will present his first full budget speech on the 21st February 2018. This has to be one of the most important budget speeches announced post-democracy - one that could make or break our fragile economy. The scale of funding the budget deficit alone is daunting, set against a backdrop rebuilding investor confidence in “brand South Africa”. The starting point, according to the medium term budget speech, is the funding of a budget deficit in excess of R50 billion. Then Zuma’s bombshell announcement of free education has really set the cat amongst the pigeons. According to the Davis Tax Committee we would need at least an additional R60 Billion per annum to fund this. Treasury has bandied about figures of between R12 [...]

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