Cecil Kilpin | November 2017 Newsletter

By |2022-01-21T10:39:42+02:00November 3rd, 2017|Business, Finance + Economics, Goverment, Newsletter, Tax|

"REVIEW: MEDIUM TERM BUDGET POLICY SPEECH" Overview There was not much good news, with revenue shortfalls projected in 2017/18 to be R50 billion, R69 billion in 2018/19 and R89 billion in 2019/20. So, a collective shortfall over the next three years of over R200 billion, with limited detail on how to fund it. There is mention of the sale of state assets to fund the SAA bailouts etc. There appears to be no concrete plan of action besides the possible sale of some Telkom shares.We appear to be stuck in a low growth trap, with limited vision for a way forward. There is immense political pressure to act in accordance with the wishes of key political figures and it appears that only a radical change [...]