MK Party Rejects 2025 Fiscal Framework and Revenue Proposals

MK Party Rejects 2025 Fiscal Framework, Proposes Alternatives

The uMkhonto weSizwe (MK) Party has rejected the 2025 Fiscal Framework, criticizing optimistic growth forecasts, a proposed VAT hike, and the lack of inflation-linked tax bracket adjustments. It warns these measures hurt lower-income households and erode disposable income.

The party also questions the effectiveness of fiscal consolidation and calls for a transparent debt reduction plan. It proposes alternative funding strategies, including a wealth tax, higher corporate tax, and a streamlined executive. MK supports converting the SRD grant into a Basic Income Grant and aligning social grants with living costs.

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