{"id":65328,"date":"2024-04-30T08:48:06","date_gmt":"2024-04-30T08:48:06","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/wealth-tax-warning-from-zuma-party"},"modified":"2024-04-30T09:33:39","modified_gmt":"2024-04-30T09:33:39","slug":"wealth-tax-warning-from-zuma-party","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/wealth-tax-warning-from-zuma-party","title":{"rendered":"Wealth tax warning from Zuma party"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>A party backed by former South African President Jacob Zuma said it expects to be in government after May 29 elections, and that it plans to raise additional state revenue by increasing capital gains and inheritance taxes once in office.<\/p>\n

The uMkhonto weSizwe Party, or MKP, has emerged as the wildcard in the election since Zuma threw its weight behind it in December last year.<\/p>\n

With opinion polls showing it is set to win between 8% and 13% of the vote, it is unlikely to realize its ambitions of taking power nationally, but it could still be a key power broker in parliament and in Zuma\u2019s home province of KwaZulu-Natal.<\/p>\n

\u201cWith us the emphasis is taxation, maybe more on capital income than on labor income,\u201d Thanti Mthanti, the MKP\u2019s economic policy expert, said in an interview at Bloomberg\u2019s Johannesburg office on Monday. The party also plans to review some property tax deductions, he said.<\/p>\n

The MKP\u2019s other previously announced policy priorities include the nationalization of the central bank and commercial lenders, and the expropriation of land without compensation. Its election platform is similar to that of the leftist Economic Freedom Fighters, which MKP sees as a potential coalition partner.<\/p>\n

Mthanti dismissed allegations and widespread reports that Zuma\u2019s almost nine-year tenure was marred by mismanagement and stagnation, saying the economy has slowed and power cuts had worsened since he left office.<\/p>\n

He also rejected a judicial commission\u2019s findings that Zuma had aided and abetted the looting of taxpayer funds, saying he hadn\u2019t been convicted of anything.<\/p>\n

Nhlamulo Ndhlela, the MKP\u2019s spokesman, re-iterated that the 82-year-old Zuma remains fit enough to hold office and described reports that his health is failing as false.<\/p>\n

On May 10, the Constitutional Court will hear an appeal filed by the nation\u2019s electoral commission disputing Zuma\u2019s eligibility to stand as a lawmaker in the election because he has a criminal conviction for refusing to testify before the judicial graft inquiry.<\/p>\n

The MKP has recently been dogged by internal divisions. Over the weekend, it expelled several senior members, including co-founder Jabulani Khumalo, who registered the party in September 2023.<\/p>\n

There is no risk of Khumalo deregistering the party, as it subsequently been re-registered under Zuma\u2019s name, Ndhlela said.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. A party backed by former South African President Jacob Zuma said it expects to be in government after May 29 elections, and that it plans to raise additional state revenue by increasing capital gains and inheritance taxes once in office. The uMkhonto weSizwe Party, or MKP, has emerged as the wildcard in […]<\/p>\n","protected":false},"author":84,"featured_media":65327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-65328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nWealth tax warning from Zuma party - South Africa<\/title>\n<meta name=\"description\" content=\"A party backed by former South African President Jacob Zuma said it expects to be in government after May 29 elections, ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/wealth-tax-warning-from-zuma-party\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wealth tax warning from Zuma party\" \/>\n<meta property=\"og:description\" content=\"A party backed by former South African President Jacob Zuma said it expects to be in government after May 29 elections, ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/wealth-tax-warning-from-zuma-party\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-30T08:48:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-30T09:33:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1714456835.834837.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/wealth-tax-warning-from-zuma-party#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/wealth-tax-warning-from-zuma-party\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Wealth tax warning from Zuma party\",\"datePublished\":\"2024-04-30T08:48:06+00:00\",\"dateModified\":\"2024-04-30T09:33:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/wealth-tax-warning-from-zuma-party\"},\"wordCount\":394,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/wealth-tax-warning-from-zuma-party#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1714456835.834837.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/wealth-tax-warning-from-zuma-party#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/wealth-tax-warning-from-zuma-party\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/wealth-tax-warning-from-zuma-party\",\"name\":\"Wealth tax warning from Zuma party - 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