South Africa's finance minister fails to unveil budget

South Africa's finance minister fails to unveil budget after tax row
South Africa's Finance Minister Enoch Godongwana has been forced to postpone the unveiling of the national budget following sharp disagreements within the coalition government.Coalition partners derailed his budget after opposing his plan to raise value-added-tax (VAT),
South African budget delay over VAT hike shows cracks in coalition
South Africa's national budget was postponed on Wednesday because the two biggest parties in the ruling coalition disagreed over raising value-added tax, an unprecedented delay that caused the rand and government bonds to fall.
South Africa Budget Under Added Scrutiny Given Trump Aid Tensions
South Africa’s finance minister is under pressure to chart an economic course that navigates the hazards unleashed by Donald Trump’s trade war.
South Africa’s finance minister wanted to raise VAT: the pros and cons of a tricky tax
The reason for the abrupt cancellation was the failure of the minister to get cabinet approval for the proposal to raise value added tax (VAT) from 15% to 17%. VAT is the second biggest contributor to tax collection after personal income tax, followed by corporate taxes.
South Africa’s Budget delay not a crisis, Ramaphosa says
The unprecedented delay in the presentation of South Africa’s budget shouldn’t be seen as a crisis and wouldn’t derail the country’s 10-party ruling alliance, President Cyril Ramaphosa said.
South Africa due to present pivotal budget
Africa's largest economy has faced a burgeoning debt and stagnating economy that threaten to derail the country's coalition government.
South Africa Budget Unraveled After a Key Detail Was Kept Secret
South African Finance Minister Enoch Godongwana presented highlights of his upcoming budget to colleagues two weeks ago, but skipped a crucial detail to stop it from leaking — triggering a major fallout in the nation’s coalition government.
South Africa abruptly cancels budget speech over dispute in governing coalition
South Africa’s budget announcement by the finance minister has been abruptly canceled and rescheduled for next month over a dispute among parties in the governing coalition
South African budget postponed over lack of agreement
South Africa's national budget, which was meant to be presented on Wednesday, has been postponed until further notice because of a lack of agreement, the speaker of the National Assembly said on Wednesday.
Opinion
South Africa’s Budget Fiasco Shows ANC Can’t Go It Alone
President Cyril Ramaphosa keeps ignoring his key coalition partner. That is a surefire way to tank the unity government.
South Africa postpones budget speech over tax impasse
AFPSouth Africa on Wednesday indefinitely pushed back the coalition government's first national budget speech to parliament in a shock move following internal pressures over tax hikes.The speech to outline the government's fiscal priorities,
South Africa abruptly cancels budget speech as governing parties dispute the details
South Africa’s budget announcement by the finance minister has been abruptly canceled and rescheduled for next month over a ...
Budget 2025 | Treasury aims to give R219.2 billion boost to power a greener future
Treasury reveals plans for a massive R219. 2 billion investment in the green energy sector, promising transformation amid ...
South African rand stable after volatile week
South Africa's rand was stable on Friday after a volatile week in which it weakened over the last-minute postponement of the ...
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Good news for petrol prices in South Africa comes with a big catch
Finance minister Enoch Godongwana leaked Budget Speech shows that he wanted to give drivers some relief. But now the plans ...
Diverging views to tackle tax shortfall create friction in South Africa’s fiscal policy
Kelly Wright, a partner at global advisory firm Bowmans, said there was an issue with the legislation and the administrative process involved.
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2025 Budget Speech: SACP rejects idea of VAT increase
JOHANNESBURG - The South African Communist Party (SACP) has outright rejected the idea of a value-added tax (VAT) increase in ...