Budget 2017: South Africans share their predictions

South Africans from all walks of life are eagerly anticipating the upcoming budget speech by Minister Pravin Gordhan, with various predictions and concerns swirling around the potential impacts on their daily lives and the economy at large. As the nation braces for the unveiling of the budget, individuals like Nazrin Keita, Don Pretoureas, Dudesile Mubi, and Kevin Linz are sharing their thoughts on what to expect. Nazrin Keita, head of taxation services at Deloitte Johannesburg, anticipates that individual taxpayers may face significant changes in the upcoming budget. She speculates that there could be an increase in the marginal tax rate from the current 41% to 45%, resembling levels seen in the 1980s. Keita also suggests the possibility of a surcharge to fund infrastructural needs. The anticipation is high for what could be a transformative budget announcement. Don Pretoureas, a single mother and entrepreneur based in Randburg, Johannesburg, expresses concerns about potential mismanagement of funds within the government. She emphasizes the importance of allocating money wisely and efficiently, highlighting the prevalence of corruption and wasteful expenditure. Despite being willing to pay additional taxes, Pretoureas stresses the importance of seeing tangible improvements and outcomes from her contributions to the country. For Dudesile Mubi, a small business owner from Yovil in Johannesburg, the impending tax increase poses a significant challenge to her livelihood. Managing a fast food shop to support her family, Mubi grapples with the rising cost of living and worries about the potential impact of price hikes on her business. Despite facing financial struggles, she remains determined to find ways to cope with the economic pressures the budget may introduce. Kevin Linz, an economist with 27 years of experience in the South African economic landscape, underscores the government's debt situation and the need for increased revenue. Linz acknowledges the Treasury's efforts to meet expenditure targets but notes that low economic growth continues to hamper tax revenue generation. With the budget announcement looming, Linz anticipates the possibility of tax increases as the government seeks to bridge the revenue shortfall. As South Africans navigate their financial responsibilities and brace for the implications of the upcoming budget, the overarching theme remains one of uncertainty and cautious optimism. The diverse perspectives shared by individuals like Keita, Pretoureas, Mubi, and Linz reflect a nation grappling with economic challenges and grappling with the need for sustainable financial solutions. The forthcoming budget speech by Minister Gordhan is poised to shape the economic landscape and set the tone for fiscal policy in the coming year.