People`s reaction to the Budget Speech

source: Mmegi

FRANCISTOWN: The budget proposal for 2010/11 presented to the National Assembly on Monday by the Minister of Finance and Development Planning, Kenneth Matambo has received mixed reactions from members of the public.

The contention was based mainly on the increase in Value Added Tax (VAT) from 10% to 12% with effect from April 1, 2010, and the fact that there will be no salary increase and no inflation adjustment for civil servants.
Some people that Businessweek talked to said by increasing VAT, the government is punishing rather than supporting them.

A self-employed carpenter, 39-year-old Othusang Majaule of Block Two said increasing VAT will only hurt people who do not [continue reading]


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