Written submission on the 2023 Fiscal Framework and Revenue Proposals Summary

This briefing summarizes a submission by the Institute for Economic Justice (IEJ) regarding the 2023 Fiscal Framework and Revenue Proposals. The IEJ argues that the current macroeconomic framework prioritizes debt stabilization over human rights and service delivery, characterizing the 2023 Budget as "anti-poor" due to austerity measures and a lack of progressive taxation to address poverty and inequality.

• The IEJ contends that the current macroeconomic framework is "economic suicide" and violates Constitutional obligations to protect human rights by prioritizing debt stabilization and a primary budget surplus over the reduction of unemployment, poverty, and inequality. The 2023 National Budget includes a real reduction in non-interest expenditure of R162 billion over the medium term, representing a 2.65% decrease.
• The IEJ criticizes National Treasury for failing to conduct human rights impact assessments on budget cuts, noting that the budget does not account for the impact of austerity on women, particularly those in rural areas. The IEJ argues that fiscal consolidation should not be the primary priority and that public expenditure should be expanded to support developmental reindustrialisation.
• While welcoming debt relief for Eskom, the IEJ warns that the associated conditionalities may accelerate privatization and increase electricity prices due to the profit margins of Independent Power Producers (IPPs), who the IEJ claims lack the capacity to solve load shedding. The IEJ recommends unconditional debt relief, "haircuts" for private debt holders, and the writing off of debt by the Government Employees’ Pension Fund.
• The IEJ proposes using progressive taxation to create fiscal space and invest in social protection. Specific recommendations include returning the corporate income tax rate to 28%, introducing a wealth tax, increasing estate duty and dividend taxes, and reducing tax breaks for higher-income earners via pension and medical aid rebates.

APA

Institute for Economic Justice (2023). Written submission on the 2023 Fiscal Framework and Revenue Proposals Summary. https://iej.org.za/wp-content/uploads/2023/03/IEJ-2023-Submission-Summary.pdf

Chicago

Institute for Economic Justice. Written submission on the 2023 Fiscal Framework and Revenue Proposals Summary. 2023. https://iej.org.za/wp-content/uploads/2023/03/IEJ-2023-Submission-Summary.pdf.

Wikipedia

{{cite report |author=Institute for Economic Justice |title=Written submission on the 2023 Fiscal Framework and Revenue Proposals Summary |date=3 March 2023 |url=https://iej.org.za/wp-content/uploads/2023/03/IEJ-2023-Submission-Summary.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{instituteforeconomicjustice2023written, author = {{Institute for Economic Justice}}, title = {{Written submission on the 2023 Fiscal Framework and Revenue Proposals Summary}}, institution = {Institute for Economic Justice}, year = {2023}, month = mar, url = {https://iej.org.za/wp-content/uploads/2023/03/IEJ-2023-Submission-Summary.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }