Business Report writes that the Congress of South African Trade Unions (Cosatu) indicated on Wednesday that it did not think Finance Minister Enoch Godongwana's third budget attempt on Wednesday was enough to stimulate growth for the country's economy.

The federation said: "Whilst appreciating the scrapping of the VAT hike, we remain deeply distressed that for two years in a row, Personal Income Tax brackets have not been adjusted for inflation. This will see workers at the margins of the next tax bracket in danger of paying higher taxes when receiving their annual increases. This trend must be reversed. Whilst regretting the decision not to extend VAT exemptions for additional food items or provide further fuel price relief, we urge government to pursue additional measures to cushion indigent households from poverty, in particular expanding free electricity and water." Cosatu added that the tax regime must be reviewed to provide relief for low-income earners and “ensure wealthy individuals and companies pay their fair share." Cosatu welcomed the government’s acknowledgment that “bleeding the public services working-class communities and businesses depend upon is reckless and harmful to the economy” and welcomed the 5.4% increase in expenditure over the Medium-Term Expenditure Framework (MTEF) and allocations to frontline services.

• Read the full original of the report in the above regard by Ashley Lechman at Business Report

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