Cape Town – President Cyril Ramaphosa has confirmed that the National Budget will be presented on Wednesday, stating it’s “all systems go”.
Finance Minister Enoch Godongwana is finalising the third version of the Budget after the first two were rejected due to disagreements between the ANC and DA over a proposed VAT increase.
Ramaphosa assured the public that the final touches are being made and the presentation will proceed as planned, SABC News reported.
President Cyril Ramaphosa says it’s all systems go for the National Budget to be presented on Wednesday.https://t.co/cOsrjk9Lof pic.twitter.com/7pYianI2eb
— SABC News (@SABCNews) May 18, 2025
The VAT hike — originally planned to start with a 0.5% rise in May 2025 and another in 2026/2027 — was dropped due to strong public and political opposition.
The government now faces the challenge of finding alternative ways to address revenue shortfalls and fund essential public services.
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Compiled by Betha Madhomu
