Finance Minister Enoch Godongwana

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Cape Town

Econimist: “Tax increases are bad news across all economies”

By Kouthar Sambo Ahead of the national budget in parliament, which takes place on Wednesday, 19 Feb (2025), analysts and critics condemned plans to raise personal, corporate, or value-added taxes. This comes after analysts predict that Finance Minister Enoch Godongwana may have to increase taxes to improvise for the shortfall. Economist Ulrich Joubert spoke of VOC's PM Drive show, stating that "There is no room for tax increases, given the […]

today18 February 2025

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Cape Town

Finance Minister Enoch Godongwana says National Treasury’s plan to cut South Africa’s budget will not affect service delivery

By Kouthar Sambo In response to a Parliamentary question from the Economic Freedom Fighters MP Omphile Maotwe, Finance Minister Enoch Godongwana said the National Treasury’s plan to cut South Africa’s budget by letting some government employees retire early will not affect service delivery or be a “free-for-all”. Speaking on VOC's PM Drive show, political analyst Angelo Fick said that if the move refers to retirement, it does not necessarily mean […]

today4 December 2024

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Cape Town

Analysts expects Finance Minister Enoch Godongwana to promote fiscal discipline and controlled spending in his Medium-Term Budget Policy Statement

By Kouthar Sambo Analysts expect Finance Minister Enoch Godongwana to promote fiscal discipline and controlled spending in his Medium-Term Budget Policy Statement, which was delivered on Wednesday. Some concerns are mounting, and are linked to budget risks linked to the May elections, leading to cautious optimism about the Government of National Unity (GNU). Speaking on VOC's PM Drive show on Wednesday, economist Ulrich Joubert echoed the sentiment of "cautious optimism" […]

today31 October 2024

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Local

Finance Minister reports progress in Eskom debt relief for municipalities

Finance Minister Enoch Godongwana announced progress on Eskom debt relief plan, with 70 municipalities approved and compliance improving from 55% to 76% since March, supported by National Treasury and provincial finance teams. Addressing parliament on Wednesday Godongwana called on government departments to pay their dues to help municipalities continue services and meet payments to Eskom and water boards. “Many of our municipalities face serious governance planning and financial management challenges. […]

today30 October 2024

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Local

Early withdrawals of pension funds are subject to tax

Finance minister Enoch Godongwana has warned against hasty withdrawals of pension funds as part of the two-pot retirement system, which comes into effect on the first of September. The system allows retirement fund members to access savings without resigning or cashing out pension funds entirely. Godongwana said he is unfazed about those complaining about taxing the withdrawals. “I would not encourage anyone to access these funds. This is their future […]

today30 August 2024

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News

‘The R350 SRD grant is both a blessing and a curse,’ says citizens.

By Loushe Jordaan Gilbert Although nothing of significance came from in the annual budget speech delivered by the Minister of Finance Enoch Godongwana around the extension of the R350 Social Relief of Distress (SRD) grant, President Cyril Ramaphosa has assured the populous that government will extend and improve the R350 SRD grant as the next step towards income support for the unemployed during his State of the Nation Address. The […]

today29 February 2024

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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 […]

today21 February 2024

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