VAT increase would do far more harm than good – Chamber welcomes Governments last-minute decision to reconsider its budget priorities
The Cape Chamber welcomes Government’s last-minute decision to reconsider its budget priorities following contestation over a proposed 2% VAT increase. While the postponement is likely to cause market uncertainty, the impact of the 2% hike would have been far worse. We are hopeful that Government will use the delay to reformulate a budget that might […]
Finance Minister will need a magic wand to help deliver a budget this week capable of fulfilling SONAs promises
Finance Minister Enoch Godongwana will need a magic wand in his briefcase to help deliver a budget this week capable of fulfilling President Cyril Ramaphosa’s State of the Nation promises. There is simply not enough tax revenue to give immediate effect to Ramaphosa’s wishful thinking, in particular the President’s projected 3% GDP annual growth. The […]
SONA 2025 shows once again how Government has failed to turn its words into wages
Image: South African Government The President’s latest State of the Nation Address shows once again how Government has failed to turn its words into wages. While few can doubt the lofty sentiments expressed, Ramaphosa’s speech belies the fact that the state of the nation remains mired in economic distress – a 5% increase in unemployment […]
A week is a long time in politics, especially this week
It was former British Prime Minister Harold Wilson who said ‘A week is a long time in politics’. That was in 1964 – when Donald Trump was barely out of his teens. These days a single day is a long time in politics. Events across the Atlantic are sure to weigh heavily on President Cyril […]
Yet another above-inflation increase on electricity tariff – with the likelihood of more to come
The 12.74% tariff increase, while substantially less than Eskom’s requested 36.15%, is cold comfort for households and businesses already struggling to afford electricity, and which now face yet another above-inflation increase – with the likelihood of more to come. Deliberations over the tariff hike also raise concern about Eskom’s balance sheet and ongoing municipal debt. […]
There’s little point supplying electricity that is unaffordable – and becoming more unaffordable every year
Eskom has been rightly praised for achieving 300 consecutive days without load shedding. But there’s little point supplying electricity that is unaffordable – and becoming more unaffordable every year. Given the recent series of steep electricity tariff increases, it is difficult to believe Eskom is serious about their latest proposed tariff increase, of 44%. Agreeing […]
Major Chambers of Commerce affiliated with ASAC, not with SACCI (South African Chamber of Commerce & Industry)
The major Chambers of Commerce & Industry in South Africa wish to make it clear that we are not in any way affiliated to the South African Chamber of Commerce & Industry (SACCI), we are affiliated under the Association of South African Chambers (ASAC). The Association of South African Chambers (ASAC) is a voluntary apolitical […]
Government risks sabotaging critical infrastructure projects with unrealistic preconditions for public-private partnerships
Government risks sabotaging critical infrastructure projects with unrealistic preconditions for public-private partnerships. This is evident in Transnet’s handling of the privatisation process for the container terminals at Ngqura and the container corridor between Johannesburg and Durban.Transnet is insisting that potential partners take on all 3 573 Transnet Freight Rail staff as a precondition for involvement […]
Tight monetary policy putting a handbrake on much-needed economic growth
Tight monetary policy is now putting a handbrake on much-needed economic growth, to the detriment of business growth and job creation. The Cape Chamber of Commerce and Industry adds its voice to the large number of economists calling on the South African Reserve Bank for a repo rate cut. High interest rates persist as a […]
Premier delivers optimistic and balanced view of the Western Cape’s current challenges
Premier Alan Winde delivered an optimistic and balanced view of the Western Cape’s current challenges, which include persistent high levels of crime and climate change impacts. In our view the Premier’s opening address correctly emphasised the need for greater collaboration between the provinces and national government in delivering public services. In particular we welcome the […]