News 08:00

BULLETIN 3 March 8 am

Good morning. I am……..

In this bulletin:

# The ANC Veterans’ League is calling for a sober debate on the budget
# The DA says it is standing firm on a zero VAT increase
# And rugby: The Bok Women’s Sevens finish third in the first leg of the Challenger series

# The ANC Veterans’ League is calling for a constructive, informed, and sober debate on the budget. This is as another special cabinet meeting is scheduled for today to consider alternative proposals to a two-percentage-point hike in value-added tax, as proposed in the rejected February budget. ANC Veterans’ League president, Snuki Zikalala, says the government should avoid drastic expenditure slashing and must also be mindful of the sentiment of citizens, who struggle with high unemployment and the ongoing high cost of living.

Meanwhile, the DA says it refuses to be held hostage or intimidated by the ANC’s blatant threat to approach the EFF to pass the value-added tax-based budget. According to the Sunday Times, the ANC has threatened to approach the EFF for the required votes to pass the budget next Wednesday, should the DA not budge. National Treasury is now reportedly suggesting a comprised 0.75-percent VAT increase. The DA’s, Mark Burke, says they are against any VAT hikes:

# Gauteng Finance MEC, Lebogang Maile, says the province has received over 17-thousand registration applications from spaza shops and food-handling businesses. Just over seven-thousand of the applications received were from foreign nationals across all municipalities. The registration period, aimed at formalising all food-handling businesses, ended last Friday. Maile says over four-thousand-600 spaza shops and food outlet businesses have received approval, with 128 owned by foreign nationals:

# European Commission president, Ursula von der Leyen, says Ukraine needs comprehensive security guarantees to support its economic and military positions. On Sunday, European leaders held an emergency summit in London, focused on developing a peace plan for Ukraine, which will be put to the US. She described the summit as a good and frank discussion. Von der Leyen says it is important that Ukraine is in a position of strength to be able to protect itself against Russia. She adds that they must prepare for the worst.

# Rugby: The Springbok Women’s Sevens defeated Colombia 29-nil to claim third place in the first leg of the World Sevens Challenger series in Cape Town. South Africa missed a spot in the final after losing 19-15 to Kenya in the semifinal. Kenya won the final, beating Argentina 17-12. Bok women’s coach, Renfred Dazel, says starting in third place after the first tournament is not what they wanted, but it’s also not the end of the world:

# And the financial indicators: The dollar trades at 18-rand-63-cents and the euro at 19-rand-40-cents. One British pound costs 23-rand-47-cents and Bitcoin trades at 92-thousand-501-dollars. Gold sells at two-thousand-861-dollars-53-cents a fine ounce and Brent crude oil is quoted at 73-dollars-4-cents a barrel.

Stay tuned for more news………….