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budget 2020latest news & developments
Finance Minister Tito Mboweni. (David Harrison/M&G)

We must stamp out illicit trade to boost the fiscus

The fiscus loses millions each day because of illicit trade. Sars can’t tackle this problem alone: it is up to all citizens to play their part

President Cyril Ramaphosa said factors such as instability Eskom are among the reasons for lower economic activity. (David Harrison/M&G)

Ramaphosa says recession announcement is ‘not a surprise’

President warns of tougher economic times ahead as the world’s leaders plan for a global economic slowdown

Finance Minister Tito Mboweni. (David Harrison/M&G)

Graphic: 2020 estimates of national expenditure

See how much each department has been given as their slice of the pie by Finance Minister Tito Mboweni

Umbrage: Finance Minister Tito Mboweni has taken the battle with Sakeliga to the constitutional court

Tito’s pot-luck budget speech

We are in deep shit, but there’s some good news – and, of course, another missed opportunity to do the right thing

Striking for their rights: Cosatu members protesting in Johannesburg. The trade union federation has previously threatened to dump its alliance with the ANC if planned cuts to the public-sector wage bill go ahead. (Delwyn Verasamy/M&G)

Unions slam move to cut wage bill

Cosatu rejects job losses and a wage freeze for public servants, calling this ‘a declaration of war’

Reuel Khoza. (James Oatway/ Gallo Images / Sunday Times)

PIC will only act for clients

The fund chairperson says while they may consider Cosatu’s plan to use state pensions to bail out Eskom, the deal has to be within its ambit

Finance Minister Tito Mboweni. (David Harrison/M&G)

Budget 2020: Sympathy for Mboweni from opposition as Cosatu rattles sabers

Political parties want more details on SOE bailouts, wage cutbacks

Umbrage: Finance Minister Tito Mboweni has taken the battle with Sakeliga to the constitutional court

Budget 2020 — Tito squares up to unions with wage cuts

Finance minister warns “we cannot have all things we want at the same time” and tables cuts in things like the public wage bill in a R1.84 trillion budget

Finance Minister Tito Mboweni told journalists at a closed media briefing before tabling the budget on Wednesday that he does not believe Moody’s will downgrade the country. (David Harrison/M&G)

Ratings agencies might give SA a ‘klap’ — Mboweni

Finance minister warns that government’s increased debt could mean ratings agencies downgrade the country’s credit worthiness to junk

Sars commissioner Edward Kieswetter aid the weakening of the revenue institution has affected its ability to collect tax adequately. (David Harrison/M&G)

Sars expects to collect less revenue for the year

The revenue service is expecting another year of tax undercollection thanks to weak economic growth and strained consumers.

Finance Minister Tito Mboweni. (David Harrison/M&G)

READ IT IN FULL: Mboweni’s budget speech

Here is the finance minister’s address on the 2020 budget

Balancing the books: Finance Minister Tito Mboweni has his work out for him. (Sumaya Hisham/Reuters)

LIVE BLOG: Fin Min Tito Mboweni presents the 2020 budget

The budget is usually scheduled for the second-last Wednesday in February, and the ratings agencies deliver their decisions after assessing the country’s plans for the fiscal…

Finance Minister Tito Mboweni will deliver the budget speech. (David Harrison/M&G)
Video

LIVESTREAM: Mboweni delivers budget speech

Watch: The finance minister delivers the budget less than two weeks after the president’s state of the nation address

Former PIC chief executive Dan Matjila. (David Harrison/M&G)

Dan Matjila’s grand plans to save Eskom

The former PIC chief muses over PIC debt-for-equity, privatisation and selling off power stations

Moody’s rating agency

Moody’s axe likely to fall on ordinary South Africans

The ratings agency is scheduled to announce its decision on a possible downgrade of SA credit worthiness on March 27