US EditionBudget 3.0: Godongwana's fresh blueprint to plug a deeper revenue hole
- Finance Minister Enoch Godongwana announced a revised national budget to be tabled on 21 May 2025 in Pretoria, marking the third proposal this year.
- This follows two withdrawn budgets after difficulties in coalition governance within the multi-party administration prevented agreement on the proposed VAT increase.
- The revised budget scraps the 0.5% VAT hike, estimated to raise R75 billion over three years, forcing reconsideration of spending cuts and fiscal adjustments.
- Godongwana emphasized the need to manage costs better without further tax hikes or borrowing, calling the budget process "messy" and urging cooperation among parties.
- The final budget outcome will hinge on ongoing negotiations within the GNU, with anticipated cuts likely to impact service delivery, while government spending on salaries is projected to stay stable.
17 Articles
17 Articles
Godongwana holds firm amid pressure to resign over budget – The Mail & Guardian
The finance minister says his U-turn on a VAT hike was a collective decision of the government of national unity This content is restricted to subscribers only. Join the M&G Community Our commitment at the Mail & Guardian is to ensure every reader enjoys the finest experience. Join the M&G community and support us in delivering in-depth news to you consistently. Subscribe Subscription enables: - M&G community membership - ind…
South Africa to Present New Fiscal Plan After Scrapping VAT
South Africa’s Finance Minister Enoch Godongwana announced on Wednesday that he will unveil a new budget on May 21 that will include adjustments to revenue and expenditure forecasts following the cancellation of a highly contentious increase in value-added tax (VAT). During a briefing, the minister stated that comprehensive discussions would take place with all political parties within the coalition government, along with the cabinet’s endorseme…
Coverage Details
Bias Distribution
- 40% of the sources lean Left, 40% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
