WATCH: How likely are budget tax hikes?

Cape Town - Ahead of Wednesday's budget George Herman, director and chief investment officer of Citadel Investment Services, talks to Fin24 about the chances for an increase in VAT, a hike in personal income tax and other measures the finance minister may use to boost state revenues. 

"The minister has this fine balance between an austerity budget that pleases the investment world, but also a budget that distributes the money to all the places that is necessary, as per the initiatives that the president announced," he says.