Finance Minister Enoch Godongwana will present the National Budget on Wednesday. As Finance Minister Enoch Godongwana prepares to unveil the much-anticipated Budget on Wednesday, South Africans are on edge, eager for crucial insights into potential tax adjustments and the government’s spending priorities. This second Budget under the Government of National Unity comes on the heels of an impressive revenue collection boost by the South African Revenue Service (SARS), raising expectations and concerns alike.
Godongwana’s last update, the Medium-Term Budget Policy Statement, highlighted a surplus of R68.5 billion, with revenue exceeding the budgeted estimate by R19.3 billion and reductions in debt service costs. Godongwana had indicated that he will make a final decision on additional tax increases after VAT increase was rejected. Theperspective on the upcoming Budgetvaries widely among stakeholders.
MK Party MP Des van Rooyen expressed skepticism, saying it will be naive for anyone to expect the good to come out of the Budget. “We still have poverty dominating in our society, unemployment dominating growth, and growth is very stubborn. So truly speaking, it will be naive for anyone to expect that there will be major changes coming out of the Budget Speech,” said Van Rooyen.
Read Full Article on Cape Argus
[paywall]
In contrast, IFP Chief Whip Nhlanhla Hadebe called for decisive actions that align with long-term developmental goals. Hadebe said they expected the 2026 Budget to deepen, not dilute, the progress made in frontline services such as education, healthcare, and social grants. “We expect continued momentum on the multi-year R1 trillion public infrastructure programme. He added that South Africans cannot withstand policy decisions that increase transport costs, raise food prices, or worsen inequality.
[/paywall]
All Zim News – Bringing you the latest news and updates.
