Budget Speech Archives - Voice of the Cape

Future of South Africa’s budget questioned as DA and ANC continue scuffle over VAT

By Daanyaal Matthews The budget speech continues to dominate headlines across the Republic as discussions intensify over a potential 0.5% increase in VAT this year, with the possibility of another hike next year. While parties such as the UDM have reluctantly accepted the increase, their counterparts in the Government of National Unity—particularly the DA—have openly challenged the ANC’s proposed policy shifts. As a result, the future of the budget speech […]

17 March 2025

Local

Budget Speech delay sparks political and economic debate

The postponement of the Budget Speech is an unprecedented move in a year of international significance for South Africa, particularly with the upcoming G20 Summit. This delay raises concerns about the political and economic implications for the government. Speaking on VOC’s NewsBeat on Thursday, Professor Patrick Bond, a political economist and sociology professor at the University of Johannesburg, shared his perspective. “I think it was a wise decision for the […]

20 February 2025

Local

Economist predicts tax increases ahead of budget speech

Ahead of Wednesday’s 2025 national budget speech, economists believe that the Minister of Finance Enoch Godongwana should prioritise economic growth as the South African economy continues a downward trajectory. Speaking on VOC Breakfast on Tuesday Dawie Roodt founder, Director and Chief Economist of the Efficient Group said the minister is limited in terms of what he can do to improve economic growth. “The economy is an important aspect to look […]

18 February 2025

Local

AA urges Finance Minister to consider impact on consumers before raising fuel levies

By Ragheema Mclean The Automobile Association (AA) has cautioned Finance Minister Enoch Godongwana to carefully consider the negative impact of increasing fuel levies on consumers before making any decisions in his upcoming Budget Speech. Minister Godongwana is set to deliver the 2024 budget speech at 14:00 today (February 21, 2024), where he will also introduce the Appropriation Bill during the same sitting. Speaking on VOC Breakfast on Wednesday, AA spokesperson […]

21 February 2024

Local

Economists expect Budget Speech to focus on economic growth

Finance Minister, Enoch Godogwana will be faced with the challenging task of allocating limited resources towards multiple competing priorities when he delivers his Budget address this week. Economic analysts say they expect the focus of the budget to be on economic growth and revenue revisions. This as expenditure pressures rise due to the energy crisis, weak economic growth and a need for the extension of the special distress relief grant. […]

21 February 2023

Local

EFF members to march to Parliament ahead of the Budget Speech

LOCAL Economic Freedom Fighters (EFF) members and supporters are expected to march to Parliament in Cape Town on Wednesday morning ahead of Finance Minister Enoch Godongwana’s Budget Speech in the afternoon. The party is among others opposed to the International Monetary Fund (IMF) and World Bank loans to bail out the country’s economy. EFF spokesperson Sinawo Tambo says the party is not expecting anything new from Godongwana. “We expect further […]

23 February 2022

Local

Economist says budget speech will hopefully not have too many unpleasant surprises

LOCAL South Africans should not expect too many unpleasant surprises in the national budget speech tomorrow. This is according to an economist at the University of Stellenbosch Business School, professor, André Roux. He says the commodity price windfall and relative buoyancy of economic activity could provide a temporary fiscal respite for the economy in the budget. Roux says government debt needs to be addressed urgently. Meanwhile, The IFP says it […]

22 February 2022

Local

Breakdown of Budget 2020

A proposal to cut the state's wage bill by R160.2 billion over three years as Treasury warns of ever-rising debt repayment costs, was one of the key announcements in the 2020 Budget. "For the credibility of our fiscal stance, that R160 billion or so needs to be found," Mboweni told journalists at a pre-Budget briefing. The proposal will anger unions which have warned against wage cuts. Mboweni presented the Budget […]

26 February 2020

News

Growing opposition to proposed VAT hike

A number of civil society organisations are mobilising against the proposed VAT hike, which has raised the ire of most South Africans. In his budget speech last week, Finance minister Malusi Gigaba announced that a proposed Value Added Tax (VAT) increase from 145% to 15%, with effect of 1 April 2018. This is the first time VAT has been raised since the democratic dispensation. The move has prompted an outpouring […]

26 February 2018

Budget Speech

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