The 2025 Budget Speech has been postponed for the first time in democratic South Africa’s history as parties could not reach consensus on proposed value-added tax (VAT) increases. The budget will be tabled on March 12.
Originally meant to start at 14h00 today (February, 19), the speech was delayed due to an emergency Cabinet meeting between members of the Government of National Unity. The meeting was called after the Democratic Alliance voiced its “resolute opposition to the ANC’s plan to hike VAT at a time when millions of South Africans are already suffering under a cost-of-living crisis”.
According to the party and a leaked version of the speech, a 2% increase in VAT was due to be tabled.
Announcing the delay at around 14h20…
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