Written submission on the 2023 Fiscal Framework and Revenue Proposals Summary

The Institute for Economic Justice (IEJ) criticises the 2023 National Budget as 'anti-poor' due to its focus on fiscal consolidation and debt stabilisation over public service provision. The IEJ recommends a new macroeconomic framework targeting unemployment and inequality, unconditional debt relief for Eskom including 'haircuts' for private debt holders, and the implementation of progressive taxation measures such as a wealth tax and returning the corporate income tax rate to 28%.

• The current macroeconomic framework prioritises debt stabilisation and primary budget surpluses over human rights and public services, resulting in a proposed real reduction in non-interest expenditure of R162 billion over the medium term, which represents a 2.65% decrease.
• While debt relief for Eskom is welcomed, the IEJ argues that the attached conditionalities may accelerate privatisation and increase electricity prices via independent power producers (IPPs), who lack the capacity to solve load shedding.
• The IEJ proposes several progressive tax measures to create fiscal space and redistribute income, including returning the corporate income tax rate to 28%, introducing a wealth tax, and reducing tax breaks for high-income earners through medical aid and pension rebates.
• The 2023 Budget is characterised as 'anti-poor' because it employs an austerity-based framework that undermines public and private investment and fails to account for the impact of cuts on vulnerable groups, such as women in rural areas.

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} }