Budget speech expected to be underpinned by cuts, austerity and tax increases

The budget that Finance Minister Pravin Gordhan will deliver in Parliament today is expected to be underpinned by cuts, austerity and tax increases.

South Africa's economy is in a desperate place and, if Gordhan fails to convince ratings agencies that government has a recovery plan, the country will be downgraded.

This will make borrowing much more expensive and make life tougher for South Africans, especially the poor.

Troye Lund reports.