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NATIONAL NEWS & VIDEO - Finance Minister Tito Mboweni this afternoon will deliver his emergency supplementary budget which will focus on cutting back government spending because of the effects of the Covid-19 crisis.
It’s likely new taxes will be levied to make up for lost revenue, and government has a lot of gaps to plug.
President Cyril Ramaphosa, in his weekly letter to the nation on Monday, has already warned that South Africans should brace themselves for a tough new budget.
Speaking to the economic devastation that is following in the wake of the Covid-19 pandemic and the resultant lockdowns, the president acknowledged that there “are tough times ahead”.
Referring specifically to Mboweni’s budget, Ramaphosa said: “Revenue has plummeted and difficult decisions will be made in the coming weeks and months as we seek to reprioritise our programmes, manage public spending and scale back on projects where necessary.”
Watch the speech here:
You can watch the minister’s speech here or on the following channels:
DSTV: Parliamentary channel 408
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