Now that the position of South African Finance Minister looks to have stopped being a game of musical chairs, as fun as it was, we can settle down and see what changes are actually set to take place to the country’s fiscal policies.

Pravin Gordhan is the man in the hot seat, having previously held the position from 2009 to 2014. Back then he kind of flew under the radar a little, although any chance of that happening this time around was all but blown out of the water the past week’s fiasco.

Here’s one change he looks set to make according to Tax News:

In a statement…Gordhan sought to allay earlier market concerns about South Africa’s new fiscal direction in stating: “We can have extra expenditure only if we raise extra revenue. We will unreservedly continue our fiscal consolidation process and we will stabilize our debt in the medium term.”

“If needs be,” he added, “we will accelerate this by either cutting spending or making selective changes to tax policy. Similarly, any revenue raising opportunity will be considered very carefully to ensure that it does not damage growth or affect the poor negatively.

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[source:taxnews]