Better GDP growth means higher tax revenues, says Tito Mboweni

Finance Minister Tito Mboweni said that better economic growth and tax collection went hand-in-hand and there needed to be a concentration on GDP.

Speaking on 702, the minister explained why the government had set aside about R39 billion for assistance, saying that there was a plan to help the economy.

Finance Minister Tito Mboweni said that the government was concentrating its efforts on better GDP for a reason.

“We really need to get the economy moving. We need to get better GDP growth, and better GDP growth also means higher tax revenues,” said the minister.

He said that corporates would also be encouraged to invest.

“We have announced that we want the CIT corporate income tax to come down by some one percentage point next year. It’s a very important signaling mechanism to allow business to start planning for the future,” Mboweni said.

The minister said that South Africans who were battling had been assisted by the TERS payments and the R350 social grants, but Treasury was looking at new investment as the key to creating jobs and lifting GDP.

-EWN

In other news – SO SAD: Limpopo woman kidnapped while looking for lift at Sasol garage, gang raped for 19 days & dumped in Mpumalanga

A woman is traumatized after she was kidnapped and repeatedly raped over 19 days. The woman said her horrific ordeal started on 4 July, when she got a lift from three men she met at a filling station in Tzaneen, Limpopo.

She said she thought they would drop her off near her house but they kidnapped her and turned her into a s.e.x slave. The 26-year-old farmworker said she had earlier been shopping at Tzaneen Mall. Learn More