Budget | Citizens benefiting from only a quarter of spending
Is it time for ‘a proper austerity budget’ that will free up funds for growth-boosting infrastructure projects and service delivery?
#EnochGodongwana
FSCA investigating banks’ transaction fees
The Authority has found wide discrepancies in charges for similar services across banks, says Godongwana.
R2bn Ithala guarantee sparks row over fiscal risk to KZN
The Minister of Finance’s bailout plan for Ithala’s retail depositors has drawn sharp criticism from KZN’s Finance MEC Francois Rodgers, who warns the deal’s fine print could leave the province footing a hefty bill.
Constitutionality of the minister’s power to amend tax rates remains untested
UCT tax lecturer Ben Cronin argues that by allowing the minister to amend the income tax rates by announcement in the Budget, Parliament has overstepped its competence, eroding the doctrine that places legislative authority firmly in its hands.
Tight-lipped Treasury braces for tough Budget to plug R75bn shortfall
Finance Minister Enoch Godongwana won’t reveal where the spending cuts or savings will come from but says South Africa must “do more with less”.
Coalition politics hampered Budget consensus, says Godongwana
South Africa’s credibility among investors and ratings agencies will depend on whether the government meets the fiscal targets it has set, says Treasury.
VAT hike halted – but legal uncertainty keeps SA on fiscal edge
Tax specialist Louis Botha answers pressing questions about the suspended VAT increase and its broader implications for budget-making power and taxpayer rights.
Budget 3.0 coming after court-backed VAT suspension and new Rates Bill
SARS tells vendors there is now no legal basis for them to charge consumers VAT of 15.5% from 1 May.
Ithala’s fate hangs in the balance amid legal battles and funding disputes
Ithala depositors remain locked out of their funds while disputes over frozen accounts, strategic alliances, and government guarantees deepen.
Godongwana given 30 days to revise Budget after VAT reversal
The ANC and the DA present South Africans with different versions of what led to the decision to halt the increase.
Godongwana says VAT court challenge is politics in legal clothing
The finance minister defends the VAT hike as an urgent fiscal necessity, warning that suspending it could blow a R13.5bn hole in the Budget.
Godongwana reassures Ithala’s depositors with R2bn guarantee
The minister’s address to the FSCA conference also touched on regulation, South Africa’s G20 presidency, political tensions over the Budget, and economic growth.
Higher VAT will impact business operations and consumer spending
The Minister of Finance cites an average 19% VAT among peers to argue that South Africa’s 15% rate is low, but isolated comparisons miss key factors such as exemptions, corporate rates, and overall business costs.
SRD grant is a temporary relief measure, says Social Development department
Financially squeezed government wants to overturn a judgment declaring aspects of the SRD regulations unconstitutional.
Taxed out: why South Africa’s spending problem can’t be ignored
Experts slam the idea of a VAT increase, pointing to a record tax burden and bloated expenditure. From uncollected billions to inefficient governance, the real fix lies in reining in waste, not squeezing taxpayers.
Will a 2% VAT hike fix the Budget – or break consumers?
The VAT hike could add R58bn to government revenue, but with coalition partners clashing over its impact on ordinary South Africans, the debate over how to fund critical services without deepening the cost-of-living crisis is far from settled.
Budget 2025: can debt stability lay the foundation for growth?
With South Africa’s debt-to-GDP ratio at 75.1%, Finance Minister Enoch Godongwana faces a tough balancing act – can his Budget Speech reassure investors and spark economic growth?
