The Democratic Alliance (DA) says it expects the Finance Minister Pravin Gordhan to announce a combination of tax increases in his budget speech on Wednesday.
In its budget preview the party says Gordhan has little fiscal space to deal with the economic crisis the country is facing, with growth forecast at 1.1%.
DA spokesperson for Finance, David Maynier, says he expects Gordhan to increase personal income tax, the fuel levy as well as wealth taxes.
Maynier says Gordhan may also introduce the sugar tax.
“Whether you are rich and taxed directly or whether you are poor and taxed indirectly the Minister is going to reach into your pocket on budget day and help himself to at least R28 billion to plug the fiscal hole in 2017/2018.”
He adds: “Whether you have a high paying job and drive to work, or you have a low paying job and take a bus to work or even if you have no job and take a taxi to look for work, you will be paying more because of tax increases in 2018/18.”
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