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Finance Minister Malusi Gigaba. (Photo: Gallo Imag

Budget in a nutshell: New hope amid VAT and other tax hikes

Budget 2018

LIVE: Gigaba shocks with VAT hike in #BudgetSpeech2018

Feb 21 2018 13:02

Finance Minister Malusi Gigaba has tabled his Budget Speech and is shedding light on South Africa's economic road map. Stay with us for all the highlights.

Budget 2018

South Africans to pay higher VAT for first time in two decades

Feb 21 2018 14:11

Finance Minister Malusi Gigaba has announced that the VAT rate will be increased by one percentage point from 14% to 15%, which is expected to raise an additional R22.9bn for the fiscus.

Budget 2018

Major risks to SA economic outlook remain

Feb 21 2018 14:45

Major risks to a better economic outlook remain and a sustained recovery in GDP growth depends on extending the current upturn in business confidence, according to the National Budget.

Budget 2018

Estate duty, luxury goods tax to rise

Feb 21 2018 14:37

Wealthier South Africans are set to contribute more to the national purse, after Finance Minister Malusi Gigaba announced an increase in estate duty and higher excise taxes on luxury goods.

Budget 2018

Mining at risk because of policies

Feb 21 2018 14:30

Despite improved performance in 2017 and rising commodity prices, mining remains under pressure, according to the Budget Review.

 

Analysis & Opinion

Budget 2018

Gigaba must come clean on role in state capture

If it can't be avoided, let the Budget Speech be Malusi Gigaba's last...

Budget 2018

Why Gigaba is likely to present the budget

Although the personality and political thinking of an individual does...

Opinion

Ramaphosa carefully treads the renewal path

President Cyril Ramaphosa is now playing to a bigger audience than just...

Opinion

A truly radical SONA would tackle the land grab question

A new regime should recognise that truly bold action is required: to rethink...

Opinion

Mr President, please clean up the police force

South Africans deserve at least a taste of a world where the police are...

In other news

Eurozone hits speed bump on road to faster economic growth

Feb 21 2018 13:30

A speed bump in economic momentum won’t interrupt the eurozone's upswing.

UK wages pick up with fewer foreign nationals in the workforce

Feb 21 2018 12:46

Pay for workers in Britain has picked up in the fourth quarter and productivity gained as fewer non-nationals were in the workforce.

Oil drops as focus shifts to US inventory after market tumult

Feb 21 2018 10:39

Following a two-week rollercoaster where oil dropped, then rebounded from the rout with other risk assets, investors may now take further price cues from US stockpiles data.

Morocco tops 11-million mark in record tourism year

Feb 21 2018 09:49

Morocco has recorded a bumper year for tourist arrivals in 2017, breaking through the 11-million barrier for the first time, according to the tourism ministry.

Weak Walmart results weigh on retailers, US stocks

Feb 21 2018 07:00

Wall Street stocks have dropped, with retailers falling especially hard following disappointing results from Dow-member Walmart.

Oil holds momentum that's driven by OPEC's promise to re-balance

Feb 20 2018 10:14

Oil has headed toward its highest close in two weeks on investor optimism after OPEC’s secretary general said the market’s journey toward equilibrium is gaining traction.

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WinnersPriceChange% Change
ASR Assore LimitedR320.17R26.068.86%
KIO Kumba Iron Ore LimitedR346.38R16.865.12%
NHM Northam Platinum LimitedR44.99R1.493.43%
NPN Naspers LimitedR3340.00R104.173.22%
NRP Nepi Rockcastle PlcR111.86R3.363.10%
Selected from the top 100 Equities by Market cap.
LosersPriceChange% Change
TBS Tiger Brands LimitedR418.51R-32.18-7.14%
SNH Steinhoff International H...R4.94R-0.31-5.90%
BAT Brait SeR42.47R-1.94-4.37%
TFG The Foschini Group Limite...R205.02R-9.18-4.29%
CCO Capital & Counties Proper...R44.15R-1.70-3.71%
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Company Snapshot

We're talking about: #BUDGET2018

The finance minister faces a tough task as he has to find ways for South Africa to plug a R50.8bn hole in the country's finances.
 

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