Punch-drunk taxpayer? What Minister Tito Mboweni has up his sleeve for us all

(The Money Show is brought to you by Nedbank. See Money Differently.)

(Also, read: "Let us do something unusual which will annoy the establishment – Tito Mboweni")

He needs to continue to root out state capture and corruption… reduce government debt… reduce the bloated civil service, including cabinet…

Bonang Mohale, Business Leadership South Africa

There’s no way you can tax yourself out of a fiscal crisis… We have to cut spending… The ANC is dominant… they have the political capital to effect these changes, but I’m not optimistic…

Russel Lamberti, ETM Macro Advisors

Punch-drunk South Africans are “looking forward” to Finance Minister Tito Mboweni’s maiden Medium-Term Budget Policy Statement (MTBPS or “mini-budget”).

Mboweni will table the mini-budget on Wednesday.

How will Mboweni reprioritise Government spending?

(“Reprioritise”, because there ain’t no more money in the kitty.)

Will he signal more tax hikes?

The Money Show’s Bruce Whitfield asked Bonang Mohale (CEO at Business Leadership South Africa) and Russel Lamberti (Economist at ETM Macro Advisors) for a preview.

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

He is a trusted pair of hands… Capable, highly trusted, extremely effective and efficient… He has the second toughest job in the world, after the President.

Bonang Mohale, Business Leadership South Africa

[We need] A commitment to getting government out of our lives… A commitment to a lower tax burden…

Russel Lamberti, ETM Macro Advisors

We need some big turnaround plans… [For example] a firm commitment to reduce the size of the deficit… I hope we don’t see minor tweaks… We need a proper commitment to deficit reduction.

Russel Lamberti, ETM Macro Advisors

He’ll be tweeting a lot less… and fall in line…

Russel Lamberti, ETM Macro Advisors

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This article first appeared on 702 : Punch-drunk taxpayer? What Minister Tito Mboweni has up his sleeve for us all


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