North West University (NWU) Economics Professor Waldo Krugell lauded Godongwana for pulling the proverbial "rabbit out of a hat" in his sit-down with the OFM Business Hour a few hours after the budget was tabled in parliament on Wednesday. Krugell says there are limited resources available and "this is really the best he could have done".

He says the Finance Minister did his best to support households in particular via rebates on the purchase of solar panels for installation in residential properties; the extension of the Covid-19 relief grant; and no tax increases apart from sin taxes, which are going up by 4,9%.

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However, not everyone is in agreement on this. Energy expert and consultant Chris Yelland is among those who have been highly critical of the aforementioned rebate, stating on Twitter:

New tax incentives for solar PV for individuals are disappointing and way too timid - only 25% of capex may be offset against taxable income of individuals, and only for FY 2023/24. No VAT or import duty relief for solar PV panels, inverters or battery storage. Not bold enough.

— Chris Yelland (@chrisyelland) February 22, 2023 ">

New tax incentives for solar PV for individuals are disappointing and way too timid - only 25% of capex may be offset against taxable income of individuals, and only for FY 2023/24. No VAT or import duty relief for solar PV panels, inverters or battery storage. Not bold enough.

— Chris Yelland (@chrisyelland) February 22, 2023

The Chief Operating Officer (COO) at Debt Rescue, Annaline van der Poel, echoes Yelland on this, adding that the rebate, which is capped at a maximum of R15 000 for households, is quite low and is limited to solar panels only. Her concern is that this does not take into consideration the full costs of solar installation, which can be a costly exercise.

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Van der Poel does acknowledge in her sit-down with OFM Business Hour that this was a tricky budget and Godongwana did his best, however, she stresses the country needs tangible solutions to unemployment and the ongoing energy crisis.