Ramaphosa Takes Tax Gamble as South Africa Targets Debt, Ratings

MARKET WRAP: JSE closes weaker as renewed risk-off trade hits market

MARKET WRAP: JSE closes weaker as renewed risk-off trade hits market

His speech in parliament could end up being memorable for all the wrong reasons.

Gigaba had to sell tax hikes, for VAT, personal income tax, the fuel levy and sin taxes, with questions mounting about his credibility.

Below are some of the reactions to the budget.

"They will be very cautious because state finances are still very much under pressure even after the Finance Ministers' announcements".

"Treasury will increase collaboration with all law enforcement agencies to strengthen efforts to fight fraud, corruption and the abuse of supply-chain management system across all spheres of government in order to restore the integrity of supply chain management".

AT&T announces first 3 cities to receive mobile 5G in 2018
AT&T says this rollout will be based on the 3GPP standard and will operate on the millimeter wave, or mmWave, spectrum. That level of 5G is likely years away, though mobile 5G is a promising place to start.

The first increase in the sales tax since 1993 comes just over a year before national elections and could backfire on the African National Congress because it will be seen to be hitting its largely poor and middle-class supporters.

"This also means that while government has managed to increase their support for vulnerable households and appease ratings agencies in the short term, this may have come at the expense of further infrastructure spending for the long-term".

"We will all subject ourselves to the state capture commission", he said.

OUTA agrees that the extension of guarantees for state-owned enterprises (SOEs) such as Transnet, Eskom and SAA, is necessary for stability, but claims it fails to address plans to rebuild these institutions and stop future guarantees.

"The general improvement to the fiscal framework and the reduction of expenditure by R86bn over three years seem to have gotten us over the hump - for now, in any case".

Turkey Vows To Press On With Syria Offensive
He added that the militias were forced to go back after artillery shooting. Kalin also denied that pro-Damascus forces crossed into the Afrin region.

Employees compensation accounts for R190.7 billion, goods and services was allocated R24.2 billion, capital spending and transfers was allocated R12.6 billion and current transfers and subsidies R19.2 billion.

Taxpayers and consumers will have to bear the heavy burden of ANC policy.

"This is the challenge of our time, to build a South Africa in which all people have a decent standard of living, access to economic opportunities and opportunity to pursue their dreams".

The total saving over the next three years was R85 billion, but these savings were to a certain extent offset by the additional R57 billion needed to provide free tertiary education.

Banking Association South Africa managing director, Cas Coovadia, however begged to differ saying "the decision to increase Value-Added Tax was an important signal that government is willing to take unpopular decisions to restore the fiscal health of the country".

Supreme Court declines to hear case on California gun law
The justices announced a constitutional right to possess firearms in the home in a 2008 case called D.C. v. Circuit Court of Appeals upheld the law, relying heavily on the state's "cool down" rationale.

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