The national budget speech was delivered last week by Finance Minister, Enoch Godongwana. While many analysts thought the speech lacked vision, others feel boring is good and that the Minister is doing a good job in difficult circumstances.
The biggest talking points were the debt relief to be provided to Eskom and the tax incentives to be provided to households and businesses for renewable energy investment.
While many feel the incentive to households is disappointing, those provided to the business sector are significant and could have a material impact.
Steven Hall, Director and Founding Partner of Henceforward, provides his initial thoughts and commentary in the video below.
On the tax and retirement side, there was very little announced other than the tax-free rate at retirement increasing to R550,000, and that the new two pot-system is aiming for implementation in 2024.