2020 budget revised down by R10.7 Billion - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Motorists will see an increase of 25cents per litre in the fuel levy, which consists of 16 cents per litre in general fuel levy and 9 cents increase in the Road Accident Fund levy .

The government will also introduce new excise duty on sub heated and heated tobacco products, including e-cigarettes- this will be taxed at a rate of 75% of the cigarette excise rate with immediate effect. There will also be an increase in the annual contribution limit to tax-free saving accounts by three thousand Rands from first of March this year.The budget showed that the economy is in deep, deep trouble.

Of which 6 billion is going down the SAA toilet

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Budget 2020: Read Finance Minister Tito Mboweni's full speechThe full text of the speech prepared for delivery by Finance Minister Tito Mboweni during his second National Budget speech. Budget2020
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