Brit Parliament Passes Brexit Bill

Parliament has passed the Brexit bill, paving the way for the government to trigger Article 50 so the UK can leave the European Union. The bill is expected to receive Royal Assent and become law on Tuesday. This means Theresa May is free to push the button on withdrawal talks – now expected in the last week of March.

Source : https://goo.gl/npFWwF

Sassa Answers Court Questions

Sassa was ordered by the court last week to answer questions about how the current grants crisis unfolded. They were meant to respond to court questions by 4pm on Monday‚ but did so electronically only at 10.36pm. The key answer is that the South African Social Security Agency says it discovered in October 2016 that it would be unable to take over the grants programme.

Source : https://goo.gl/0FJ8le

 

Financial Sector Hearings Underway

The public hearings at Parliament’s Standing Committee on Finance concerning financial sector transformation are expected to be robust and hostile. The committee invited members of the public and stakeholders to make comments on the transformation of the financial sector. “This will include a focus on its deracialisation, high level of monopoly, progress on implementation of the Financial Sector Charter and other related matters,”

Source : https://goo.gl/k6JKVe

Trump’s Health Plan To Exclude 24 Million Americans

The House Republican plan to replace the Affordable Care Act would increase the number of people without health insurance by 24 million by 2026, while slicing $337 billion off federal budget deficits over that time, the nonpartisan Congressional Budget Office said Monday. The Trump administration immediately denounced the budget office’s conclusions. Tom Price, the secretary of health and human services, suggested the report offered an incomplete picture because it did not take into account regulatory steps he intends to take, as well as other legislation that Republicans plan as part of their multistep strategy to repeal and replace the health law.

Source : https://goo.gl/t96rF0

Possible Fuel Price Drop

If current oil price and currency trends persist, South Africans could be cushioned from the fuel levy hike of which 30 cents is allocated to the general fuel levy and 9c to the Road Accident Fund and may even experience some relief at the pumps. Currently we’re halfway through the cycle that will determine April’s fuel price (24 February to 30 March) and the data released by the Department of Energy for the month so far averages out to a petrol price decrease of 49 cents a litre, which would be cut down to 10 cents a litre once the new fuel taxes were factored in.

Source : https://goo.gl/olx4m7

Ministers Have Spent Over R17 Million On Cars In Last 3 Years

Replies to a parliamentary question put forward by the DA have revealed that South Africa’s cabinet ministers have spent over R17.5 million on luxury cars since 2014, with Audi, BMW, Mercedes Benz and Jeeps being among the most popular. In the 2016/17 budget allocations for ministers, R10 million was set aside for car purchases.

Source : https://goo.gl/zOLM4Q

IndicatorsOil 51.28 – Rand/USD 13.22 – Rand/GBP 15.95 – Rand/EUR 14.04

 

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Author: The Turk Report

Simplifying complex money matters

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