BUDGET 3.0
CATCH UP — Budget speech: VAT stays at 15%, expansion of zero-rated basket scratched
After two failed attempts — one blocked by legal action, and another torpedoed by coalition deadlock over the now-withdrawn VAT increase — Finance Minister Enoch Godongwana has finally delivered the 2025 Budget Speech today at 14:00. This marks the third scheduled tabling of the budget, following weeks of political and fiscal turbulence.
Minister of Finance, Mr Enoch Godongwana delivers the 2025 Budget Speech during the National Assembly plenary at the Cape Town International Convention Centre on 21 May 2025. (Photo: Phando Jikelo/ Parliament of SA)