Why Gigaba has to do the unpopular thing and increase VAT


It’s D-Day for Finance Minister Malusi Gigaba today. Gigaba will deliver his maiden budget and will have some tough decisions to make to plug a R51 billion hole in South Africa’s budget amid slow economic growth. He is expected to announce harsh tax increases and other revenue raising measures. Joining CNBC Africa to talk more about what South Africans can expect today is Craig Pheiffer, Chief Investment Strategist, Absa Stockbrokers and Portfolio Management and Dr Ferdie Schneider the Head of Tax at BDO.