---
title: "Budget in a box"
description: "With two deputy ministers from the government of national unity at his side, Finance Minister Enoch Godongwana said working in government was a reality check."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "MTBPS 2024"
author: "Georgina Crouth"
author_url: "https://www.dailymaverick.co.za/author/georginacrouth/"
canonical_url: "https://www.dailymaverick.co.za/article/2024-10-30-the-budget-in-a-box-3/"
published: "2024-10-30T14:08:14"
updated: "2024-10-30T14:53:58"
lang: "en-ZA"
word_count: 72
---

# Budget in a box

> With two deputy ministers from the government of national unity at his side, Finance Minister Enoch Godongwana said working in government was a reality check.

By Georgina Crouth · Published 30 October 2024, 16:08 SAST · Updated 30 October 2024, 16:53 SAST

## Key points
- With two deputy ministers from the government of national unity at his side, Finance Minister Enoch Godongwana said working in government was a reality check. This is the long and short of it.
- Revenue collection fell short of expectations, driven by declines in fuel levy and import VAT.
- Personal income tax decreased by 9.7%, while companies tax saw an increase of 11.7%.
- VAT revenue dropped by 13%, contributing to a R10.4-billion rise in spending.
- Key priorities include containing the public service wage bill and limiting financial support for state-owned enterprises.

## Content

This is the long and short of it.

⬇️Revenue collection was lower than expected, due to declining fuel levy and import VAT collection.

⬇️Personal income tax – down 9.7%

⬆️Companies tax – up 11.7%

⬇️VAT – down 13%

⬆️Spending – up R10.4-billion.

⬇️Social security funds – down 8.5%.

⬇️Public wages – another R11-billion over the next two years.

#### **Key priorities:**

Containing public service wage bill.

Limiting financial support for state-owned companies. **DM**