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 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 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: Budget bust gives governing coalition a second chance
The postponement of South Africa’s national budget vote was as much about keeping the national coalition together as it was about the unity of the African National Congress, with the finance minister now going back to the drawing board.
South Africa’s budget postponed for first time after cabinet rift
Officials say pro-business Democratic Alliance and senior figures in African National Congress objected to VAT rise
South African budget postponed as coalition partners disagree
South Africa's national budget was postponed at the last minute on Wednesday because of a disagreement between the political parties in the ruling coalition government. The speaker of the National Assembly,
South Africa’s fight over VAT raises a key question: who should bear the burden of taxes?
The important question in a democratic setting is who gets to pay taxes and how they connect to the well-being of its ...
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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Finding the money to change South Africa’s trajectory
South Africa’s upcoming national budget will be closely scrutinised, with analysts focusing on, amongst others, the debt-to-GDP ratio, government spending and the risks that could lead to further ...
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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Budget Speech postponement: Healthy democracy or cause for concern?
Financial experts in South Africa react to the announcement of the postponement of tabling of the 2025 Budget Speech.
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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 ...
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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 ...