US EditionBUDGET 2025 | Smaller VAT increase, but SA hit with income tax squeeze
- Enoch Godongwana, the Minister of Finance, is set to deliver the 2025 Budget Speech in Parliament, focusing on economic growth and support for vulnerable citizens amid limited resources.
- President Cyril Ramaphosa expressed concerns about certain issues related to the budget, noting the importance of accountability and transparency.
- The budget includes a 0.5% VAT increase and a projected economic growth of 1.9% for 2025, which is significantly lower than estimates for other developing countries.
- Despite the passage of the budget, DA leader John Steenhuisen confirmed that the DA will not support the budget in its current form.
30 Articles
30 Articles
Second time’s the charm: A more palatable Budget reflects increased compromise in the government
Although tensions remained high, evident from political jabs at the opposition Democratic Alliance during the ministerial press briefing, Finance Minister Enoch Godongwana portrayed the delay and subsequent passage of the budget positively, describing it as evidence of “a maturing and resilient...
BUDGET 2025 | Smaller VAT increase, but SA hit with income tax squeeze
Finance Minister Enoch Godongwana has balanced the disputed 2025/26 budget by hitting consumers with a 0.5-percentage-point VAT increase for the next two years and squeezing personal income taxpayers by not adjusting tax brackets for inflation.
South Africa Proposes Smaller VAT Hike to End Budget Impasse
South African Finance Minister Enoch Godongwana proposed scaling back consumption-tax increases and curbing spending in a bid to win support for the budget from the nation’s fractious governing coalition after a previous iteration was shot down.
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