WATCH | Revised Budget set for 21 May tabling, says Godongwana

Godongwana

Cape Town – Finance Minister Enoch Godongwana has announced that a new national budget will be presented in Parliament on 21 May, following the government’s decision to scrap a proposed VAT increase.

“If we work together and stay focused and persevere, we can chart a better course for our economy and our people. That is my commitment to South Africans and that is what we will be able to achieve when we table the new budget on the 21st of May,” the minister said during a media briefing on Wednesday.

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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