As new taxes, fees, and penalties take effect from January 1, 2026, many citizens are feeling the strain of a higher cost of living. This piece examines why these measures are being introduced, the pressure they place on ordinary households, and why transparency, fairness, and visible improvements in public services will determine whether the public can accept the price of fiscal stability.
Tag: personal-finance
Asset Tax on Banks Raises Questions About Impact on Everyday Citizens
The 2025 National Budget proposes an asset tax on banks and insurance companies, aimed at making large financial institutions contribute more to the economy. While it promises steady government revenue and a sense of fairness, there are concerns about how the cost could be passed to customers through higher fees, interest rates, and insurance premiums. Small businesses and ordinary citizens could face added financial pressure, and maintaining investor confidence will be crucial. Transparency, consultation, and careful design will determine whether the policy strengthens the economy or places unnecessary strain on those who rely on the banking system.
