Tomorrow, on the eve of budget, the Institute of Race Relations (IRR) is hosting a webinar to explain how finance minister Enoch Godongwana could unlock billions in growth potential in three simple steps.
The IRR urges Godongwana to:
- Be transparent about the real costs of so-called BEE “premiums”;
- Reduce BEE premiums to R0, and
- Cut Value-Added Tax by R100 billion
Taking these steps, says IRR Fellow Gabriel Crouse, would be the most direct way to unlock the wiser buying power of millions of South Africans, particularly the poor, who best understand the value of every cent they are left to spend after tax.
Treasury could take all three steps now to stimulate economic and jobs growth, without adding to public debt while directly alleviating poverty.
In tomorrow’s webinar (details below), Crouse will spell out the details of the IRR proposal − contained in his new report, Cut VAT & BEE − in conversation with IRR head of strategic communications Hermann Pretorius.
The webinar starts at 10am. To join, go to https://streamyard.com/watch/evRgUxSzmwXR)