Wednesday, February 15, 2006

Trevor Manuel's budget speech eagerly awaited

South Africa’s taxpayers are holding their breath in anticipation of what Finance Minister Trevor Manuel intends announcing in his tenth Budget Speech today. With as much as 45-billion rands to play with, it is expected that the poor and also pensioners will benefit this year. Financial experts estimate that up to 18-billion rands could be granted in tax-relief. Old Mutual Asset Managers spokesperson Rian le Roux told the media that the revenue bonanza, gleaned from much higher-than-expected tax collections from company tax, VAT, customs duties and individual income tax, would give the government a balanced budget.

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