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Tax increase ‘not an option’ for Covid-19 vaccine funding

Business News 1 month ago

Selling ailing SOEs is one way of raising much-needed funds, says leading economist.


20 Jan 2021
PREMIUM!
Tax increase ‘not an option’ for Covid-19 vaccine funding

Finance Minister Tito Mboweni delivers the medium-term budget in Parliament, 28 October 2020. Picture: GCIS

Cutting government wastage by selling off cash-guzzling state-owned enterprises (SOEs) should be among National Treasury’s options in raising funds to pay for Covid-19 vaccines – not an increase in the already overburdened household taxes, economists said on Tuesday. The warning by experts come ahead of next month’s budget speech by Finance Minister Tito Mboweni and a bold commitment by President Cyril Ramaphosa that National Treasury would find funds to pay for the countrywide roll-out of vaccines – expected to run into billions of rands. While Wits University academics have estimated the overall cost of all three phases of an inoculation...

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