Streaming issues? Report here
Kieno Kammies 2019 1500 BW Kieno Kammies 2019 1500 BW
Today with Kieno Kammies
09:00 - 12:00
volume_up
volume_mute

Up Next: The Midday Report with Lester Kiewit
See full line-up
Today with Kieno Kammies
09:00 - 12:00
Home
arrow_forward
Business
fiber_manual_record
Opinion

Covid-19 vaccine: Government may have to milk bone-dry taxpayers some more

18 January 2021 6:25 PM
Tags:
Israel
The Money Show
UAE
Bruce Whitfield
Adrian Saville
GIBS
Cannon Asset Managers
COVID-19
covid-19 in south africa
COVID-19 vaccine
Covid-19 vaccination
Covid-19 vaccine rollout

Treasury is mulling raising taxes, says Prof Adrian Saville, Chief Executive of Cannon Asset Managers.

RELATED: Free Covid-19 vaccine for all medical aid members – Discovery CEO


South Africa’s largest vaccination drive ever is imminent.

Treasury is considering a tax hike, along with several other measures, to pay for it.

Other options include increasing the budget deficit and reprioritising spending.

© goodluz/123rf.com

Rich countries and some poorer ones have started vaccinating their populations against Covid-19.

A handful of countries – notably Israel (28% vaccinated) and the UAE (19% vaccinated) – is set emerge from the pandemic sooner than anyone would have expected a few short months ago, having already vaccinated large proportions of their populations.

South Africa, however, is still watching from the side-lines, for now.

The Money Show’s Bruce Whitfield interviewed Professor Adrian Saville, Chief Executive of Cannon Asset Managers.

It’s very hard to imagine how this economy will generate cash flow to fund new spending… It could be funded by curtailing spending, but we don’t have evidence of that. Fiscal discipline is missing in action… It’s bizarre that there are still conversations about SAA…

Professor Adrian Saville, Chief Executive - Cannon Asset Managers

A Covid-19 vaccine is [important] way over and above anything else… If we remain gripped by the pandemic, those [economic] plans will come to nought… It’s the most important priority.

Professor Adrian Saville, Chief Executive - Cannon Asset Managers

R20 billion… is not a big number. It’s substantially less than 1% of government spending…

Professor Adrian Saville, Chief Executive - Cannon Asset Managers

We have no evidence of fiscal discipline… most obviously, the wage bill.

Professor Adrian Saville, Chief Executive - Cannon Asset Managers

Economically, it’s not possible [tax hikes] … Taxpayers are missing in action… There are some silver linings, but they don’t come close to lighting a very dark economy.

Professor Adrian Saville, Chief Executive - Cannon Asset Managers

The best course of action is reprioritisation… We won’t get a stronger economy by cutting spending…

Professor Adrian Saville, Chief Executive - Cannon Asset Managers

Listen to the interview in the audio below.




18 January 2021 6:25 PM
Tags:
Israel
The Money Show
UAE
Bruce Whitfield
Adrian Saville
GIBS
Cannon Asset Managers
COVID-19
covid-19 in south africa
COVID-19 vaccine
Covid-19 vaccination
Covid-19 vaccine rollout

More from Covid-19 coronavirus explained

'The Aussies are arrogant; it’s our turn! Host Lions in S Africa, or postpone'

18 February 2021 2:00 PM

Australia wants to host South Africa and the British Lions. "We must put pressure on them to postpone," pleads Wynand Claassen.

Share this:
Read More arrow_forward

Scotland threatens to close its 'border' with England

17 February 2021 10:24 AM

It is wrong for Scotland to try and impose its laws, said one UK MP, calling Scottish threats "ridiculous" and "bearing no logic".

Share this:
Read More arrow_forward

South Africa starts largest vaccination campaign in its entire history

17 February 2021 9:02 AM

"Tygerberg Hospital gets 7400 vaccines and Groote Schuur gets 5760. Chris Hani Baragwanath gets just over 11 000," says Mia Malan.

Share this:
Read More arrow_forward

Coffee production costs are spiking - supply chains are holding up

16 February 2021 2:32 PM

Migrant workers struggling to get to farms is causing a spike in production costs, says Robert Coles (Rosetta Roastery).

Share this:
Read More arrow_forward

UCT trials next-gen Covid-19 vaccine to beat all current and future variants

16 February 2021 11:43 AM

The vaccine is developed by ImmunityBio, headed by South African billionaire Patrick Soon-Shiong (aka "world's richest doctor").

Share this:
Read More arrow_forward

South Africa is about to start vaccinating against Covid-19 after initial hiccup

12 February 2021 2:46 PM

Africa’s Covid-19 epicentre is about to start rolling out vaccines proven to be effective against the 501.V2 variant.

Share this:
Read More arrow_forward

Germany – worried about virus variants - extends hard lockdown to 7 March

12 February 2021 10:53 AM

The EU-powerhouse has been in hard lockdown since before Christmas. Kieno Kammies interviews Deutsche Welle’s Janelle Dumalaon.

Share this:
Read More arrow_forward

German army brings hope – and doctors and ventilators - to crumbling Portugal

4 February 2021 10:22 AM

Hospitals across Portugal are all but collapsing, but in a "vivid sign of European solidarity", the German army is flying in hope.

Share this:
Read More arrow_forward

Doctors in SA may now prescribe Ivermectin to treat Covid-19 – High Court

3 February 2021 1:18 PM

"It should only be used in severe cases," says virologist Burtram Fielding, "Safety data is available; there are side-effects."

Share this:
Read More arrow_forward

Russian Sputnik V Covid-19 vaccine is safe and 92% effective – The Lancet

3 February 2021 10:28 AM

"A lot of people, us included, were sceptical," says Adam Gilchrist. "The Lancet is the number one medical journal in the world.”

Share this:
Read More arrow_forward

More from Information about Covid-19 coronavirus

Covid-19 vaccine arrival brings hope that the pandemic may soon start ending

1 February 2021 7:01 PM

Bruce Whitfield interviews Prof Jeffrey Mphahlele (SA Medical Research Council) about the significance of the vaccine's arrival.

Share this:
Read More arrow_forward

[EXPLAINED] Can your employer force you to take a Covid-19 vaccine?

25 January 2021 6:49 PM

Can employers make it compulsory for employees to get vaccinated against Covid-19? A labour lawyer explains on The Money Show.

Share this:
Read More arrow_forward

Alcohol ban: Consol, hanging by a thread, burns through millions to stay alive

18 January 2021 6:39 PM

It cannot stop its furnaces, so it must keep them going. Bruce Whitfield interviews Mike Arnold, CEO at Consol Glass.

Share this:
Read More arrow_forward

South African invention revolutionises oxygen delivery to Covid-19 patients

11 January 2021 6:57 PM

"I have witnessed this device saving lives," says Dr Warren Gregorowski of the proudly South African device.

Share this:
Read More arrow_forward

'ANC is against another hard lockdown'

11 January 2021 6:33 PM

"Family meeting" – the scariest words in the English language. Bruce Whitfield interviews News24 Political Editor Qaanitah Hunter.

Share this:
Read More arrow_forward

Free Covid-19 vaccine for all medical aid members – Discovery CEO

6 January 2021 9:01 AM

"It’s mandatory for medical schemes to pay for for the Covid-19 vaccine," says Dr Ryan Noach, CEO at Discovery Health.

Share this:
Read More arrow_forward

[WATCH] President Ramaphosa on measures to battle 2nd Covid-19 wave

14 December 2020 7:44 PM

The President is addressing the nation on measures it's taking to combat the 2nd wave of Covid-19, now washing over South Africa.

Share this:
Read More arrow_forward

Odds of catching Covid-19 vs crashing your car (and other calamities)

14 December 2020 6:50 PM

Dr Johan Ferreira (Senior Lecturer in Statistics at UP) on the chance of contracting Covid-19 compared to other dangers.

Share this:
Read More arrow_forward

Lockdown destroyed 42.7% of small business in South Africa – study

7 December 2020 8:14 PM

It’s heart-breaking; the results of a study by Finfind and the Department of Small Business Development.

Share this:
Read More arrow_forward

Vaccine optimism is priced in – asset manager

7 December 2020 7:48 PM

Investors are getting ahead of themselves, warns Pieter Hundersmarck, a fund manager at Flagship Asset Management.

Share this:
Read More arrow_forward