Today’s business update – and what you need to know about Budget 2020
From Business Insider South Africa:
Here are the biggest bombshells in the Budget – including taxpayers getting R2 billion in tax relief
You’ll soon pay 13c more for every plastic bag – with proposals to tax all single-use plastic and straws
1. In a well-received (by the market) Budget, finance minister Tito Mboweni announced plans to reduce the state employee wage bill by more than R160 billion over the next three years. Read more.
2. Meanwhile, Cosatu has threatened to strike and "collapse" the public service if government does not honour the current public service wage agreement. Read more.
3. Government will also spending less than previously budgeted on infrastructure and health.
4. Income taxpayers have emerged largely unscathed: tax brackets have been changed so that they will get R2 billion more out this year. Read more.
Graph of the day
Utterly useless fact of the day
Samsung's new Galaxy S20 Ultra phone's screen is so big it would have been considered a tablet a couple of years ago. The phone's screen measures 17.5cm, which is almost exactly the same size as the Google Nexus 7 tablet from 2013. Read more.
Tweet of the day
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Also from Business Insider South Africa:
- You’ll soon pay 25c more tax per litre of fuel – here’s how fuel tax has increased from 2008
- More than 50% of your cigarette price now goes to tax, national treasury says – and more than 20% of liquor
- Apple's budget iPhone XR was the most popular phone in the world in 2019, figures suggest