#Budget2018

'Treasury may introduce VAT on fuel, a big money-spinner'

(Also read: ‘A tough Budget is a good Budget. We need a VAT increase’)

Markets and taxpayers are anxiously looking ahead to Wednesday’s Budget Speech.

Treasury is expected to spell out “tough decisions” to plug a gaping revenue gap and narrow the deficit.

The Budget Speech also provides an early look at how President Cyril Ramaphosa plans to repair the broken economy.

The Money Show’s Bruce Whitfield interviewed Old Mutual Multi-Managers Chief Investment Strategist Dave Mohr.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

I think, unfortunately, the answer is ‘yes’ [when asked if we’ll all be poorer this time tomorrow].

Dave Mohr, Old Mutual Multi-Managers

We want a Budget that Government can implement.

Dave Mohr, Old Mutual Multi-Managers

Whether Gigaba is there or not; I don’t think that’s the main point.

Dave Mohr, Old Mutual Multi-Managers

If we put up taxes too much, revenue might not increase at all…

Dave Mohr, Old Mutual Multi-Managers

We have to look at a VAT increase, even if it’s politically unpopular.

Dave Mohr, Old Mutual Multi-Managers

We can increase the fuel levy, but that’s [only] 5% of revenue.

Dave Mohr, Old Mutual Multi-Managers

They might introduce VAT on fuel, which would be a big money-spinner.

Dave Mohr, Old Mutual Multi-Managers

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This article first appeared on 702 : 'Treasury may introduce VAT on fuel, a big money-spinner'


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