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The Budget Reaction in Pictures

Reactions to the Budget Speech.
Tim Harris, CEO of Wesgro (seated left);
Janet Hugo, Financial Planner of the Year 2018, Sterling Private Clients (seated right);
Keith Engel, CEO of SA Institute of Tax Professionals (Sait), at podium.
Below ( left to right):
Professor Jackie Arendse, Rhodes University: Tim Harris, Tim Harris and Janet Hugo, Keith Engel.
Busisiwe Radebe, Nedbank economist:
Dr Tania Ajam, School of Public Leadership, University of Stellenbosch;
Mamello Matikinca-Ngewnya, FNB chief economist

At a post-Budget briefing yesterday at FNB Portside in Cape Town, academics and economists outlined the extent of the problem facing SA as it seeks to fund the welfare state while trying to stimulate growth. This is not an easy task, and there is no indication as to where the job-creating growth will come from. Instead, we have taxation be stealth, as bracket creep (the failure to adjust income tax brackets for inflation) will net the government an additional R12,8 billion in the current year. There are some signs that government is getting serious about cutting spending, but not nearly aggressively enough.