Tag: Road Accident Fund

The National Budget delivered by South Africa’s Minister of Finance, Enoch Godongwana, showed that government is making some significant financial commitments to restore Eskom to viability and maintain social grants. But with GDP growth projected at 1.4% on average from 2023 to 2025, and a potential tapering-off of the commodities boom over the medium term, how will government fund these commitments?

As was widely expected, the government did not announce any increase in the VAT rate, although the Minister has stated that the tax rate will need to increase in the future. The proposed amendments affecting VAT are largely technical in nature.

South African fuel prices increased again on 3 November and petrol price is now at 33.9% this year with the Automobile Association of South Africa (AA) warning that R20 per litre could still be on the cards for by year end. The main reason for the pressure on local fuel prices has been a sharp increase in the brent crude oil price over the past few months.

South Africa’s economic recovery relies to a large extent on creating a more enabling business environment and putting the right structural economic reforms in place. The country needs to prioritise those reforms that will deliver results both in the short and long term and put the ruling party’s tendency to revert to ideological thinking aside in the interests of rescuing the economy.

While the pandemic has had a dramatic impact on business and industrial landscapes, both locally and abroad, one of the industries that has had to adapt or die quickly is the automotive industry, in all its facets. This has meant rethinking the way it does business and what stimulus packages would help to get it firing on all cylinders again.

Sparking an immediate celebration in the rand and bond markets, the 2020 Budget Speech ticked all the right boxes for markets, depicting a government that is reform-minded and ready to show its muscles.

Dependants can’t sue Road Accident Fund where breadwinner dies in single vehicle accident. The surviving wife and children of a breadwinner sued the Road Accident Fund for damages when he died as a result of a single vehicle accident in which the deceased’s negligence was the sole cause of the collision.