PwC forecasts 'pain' for the public amid prospects of tax hikes

The nature of fiscal revenues and expenditure in the 2018/19 fiscal year so far indicate that the fiscal deficit will likely expand to R250-billion, unless prudent spending cuts are implemented, financial services firm PwC warned on Wednesday. As such, South Africans can potentially expect the implementation of significant tax increases to meet the gaping deficit when the Budget is presented by Finance Minister Malusi Gigaba next week.