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Government to announce Mid Term Budget reforms in October

SABC News Deputy finance Minister David Masondo @webberwentzel - Government to announce Mid Term Budget reforms in October

Government will be announcing a number of reforms that are going to be taken on State-Owned Entities (SOEs) at the Mid Term Budget in October.

Deputy Finance Minister David Masondo says the country is facing serious expenditure challenges that need to be curbed.

He says they have been recapitalising SOE’s and taxpayers are starting to ask questions.

He was speaking to delegates at the Tax Indaba 2019 conference, taking place in Sandton.

“We will be tabling the budget adjustments in October, that will show different measures that we are undertaking in curbing the increasing expenditure and it will also be looking at how we sort out the SOE’s because they have become a serious fiscal drain and there are a number of reforms that are going to be taken as far as these SEOs are concerned. We have already appointed a CR who will be undertaking restructuring at Eskom.”

Earlier SARS commissioner Edward Kieswetter warned that constant bailouts to SOE’s have put pressure on the country’s fiscus.

He says this could force the country to seek help from the IMF.

He warned that if SARS fails, then democracy fails.

The commissioner says there is cleaning up at SARS and various investigations are taking place with law enforcement agencies.

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