Submission on the Revised Fiscal Framework and Revenue Proposals

The IEJ argues that South Africa's Revised Fiscal Framework fails to support inclusive growth and socioeconomic transformation due to a persistent focus on debt stabilisation and austerity. The submission warns that insufficient spending growth relative to inflation and population leads to reduced per-citizen spending, stifling job creation. To address revenue shortfalls, the IEJ proposes removing tax benefits for high earners, introducing a wealth tax, and reviewing the Corporate Income Tax rate.

• The Revised Fiscal Framework is criticised for prioritising debt stabilisation and austerity measures, which the IEJ claims hinder economic growth and disproportionately impact vulnerable populations, thereby failing to align with the Government of National Unity's goals for inclusive growth and inequality reduction.
• Current government spending growth is deemed insufficient to match inflation and population growth, resulting in a decrease in spending per citizen and risking the stagnation of public employment and job creation.
• The IEJ proposes specific revenue-raising measures to fund government programs and address socio-economic issues, including a wealth tax, the removal of tax benefits for high earners, and a review of the Corporate Income Tax rate.

APA

iej_admin (2024). Submission on the Revised Fiscal Framework and Revenue Proposals. Institute for Economic Justice. https://iej.org.za/resource/submission/submission_revised-fiscal-framework-and-revenue-proposals-submission/

Chicago

iej_admin. Submission on the Revised Fiscal Framework and Revenue Proposals. Institute for Economic Justice, 2024. https://iej.org.za/resource/submission/submission_revised-fiscal-framework-and-revenue-proposals-submission/.

Wikipedia

{{cite press release |last1=iej_admin |title=Submission on the Revised Fiscal Framework and Revenue Proposals |publisher=Institute for Economic Justice |date=4 November 2024 |url=https://iej.org.za/resource/submission/submission_revised-fiscal-framework-and-revenue-proposals-submission/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{iejadmin2024submission, author = {iej\_admin}, title = {{Submission on the Revised Fiscal Framework and Revenue Proposals}}, publisher = {Institute for Economic Justice}, year = {2024}, month = nov, url = {https://iej.org.za/resource/submission/submission_revised-fiscal-framework-and-revenue-proposals-submission/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }