Darren Maule's Budget Speech for Dummies

First things first, the speech is given by the Finance Minister Tito Mboweni in Parliament over two hours. 

In case you're not too clued up with the what and why, Darren has made things much easier for you to understand. Here is his explanation on the speech:  

Why do we have a budget speech? 

You work hard for your money, you pay tax, which the government uses to fund education, roads, transport, health, Eskom and The SAA and Bosassa. Among other things. The Budget Speech is the finance minister’s chance to outline what he or she going to do with your tax. He’s setting out his intentions and allowing us full disclosure because we need to hold our government accountable. Since 2014, we had 7 ministers, and it's safe to say it isn't the easiest job in the world. Tito Mboweni is the new minister. He’s also the former Reserve Bank Governor, so don't be dismayed he knows what he's doing.

Where does he make his speech? On TV.

When is it?

Today at 2pm, but in recent years it usually takes place an hour later because opposition parties fight for screen time. 

What are the big points to watch out for?

Eskom and SAA, Health and Education. In a nutshell that means - load shedding. Johannesburg to London long haul flights are too expensive, state health care and free education.

Why should you care?

Because it directly affects YOU! Remember the 1% VAT increase? It was implemented during the budget speech last year. Listen up for other increases and rules. In simple terms, when you get emails sent around in the office asking you to use less paper or coffee. It's the same as this but on a much bigger scale. It's not for your job, it's for our life. Everything that comes out of Tito Mboweni’s mouth today will affect you. 

The Budget Speech will take place today, 20th February at 14:00. It will be aired on national television and can be streamed via Parliament's YouTube channel.

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