---
title: "CATCH UP — Budget speech: VAT stays at 15%, expansion of zero-rated basket scratched"
description: "After two failed attempts — one blocked by legal action, and another torpedoed by coalition deadlock over the now-withdrawn VAT increase — Finance Minister Enoch Godongwana has finally delivered the 2025 Budget Speech today at 14:00.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."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "BUDGET 3.0"
author: "Daily Maverick"
author_url: "https://www.dailymaverick.co.za/author/dailymaverick/"
canonical_url: "https://www.dailymaverick.co.za/article/2025-05-21-live-godongwana-budget-speech-2025/"
published: "2025-05-21T10:08:26"
updated: "2025-05-21T16:33:15"
lang: "en-ZA"
word_count: 51
---

# 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 After two failed attempts — one blocked by legal action, and another torpedoed by coalition deadlock over the now-withdrawn VAT increase — Finance Minister Enoch Godongwana has finally delivered the 2025 Budget Speech today at 14:00.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.

By Daily Maverick · Published 21 May 2025, 12:08 SAST · Updated 21 May 2025, 18:33 SAST

## Key points
- Finance Minister Enoch Godongwana is set to juggle a R75-billion shortfall in his upcoming budget, proving that when it comes to fiscal gymnastics, he’s got a very wobbly tightrope to walk.
- Finance Minister Enoch Godongwana grapples with a looming R75-billion budget shortfall.
- The upcoming Budget presents a significant challenge for the Minister.
- Limited options available for addressing the fiscal gap.
- Concerns rise over potential implications for economic stability.

## Content

### Read more:

- [Read in full:](https://www.dailymaverick.co.za/article/2025-05-21-investing-in-the-future-south-africas-budget-focuses-on-infrastructure-and-social-welfare/) Finance Minister Enoch Godongwana’s May 2025 Budget Speech
- [Enoch Godongwana’s budget](https://www.dailymaverick.co.za/article/2025-05-21-enoch-godongwanas-budget-a-delicate-balance-of-debt-control-and-social-investment-unveiled/?dm_source=dm_block_grid&dm_medium=card_link&dm_campaign=main): a delicate balance of debt control and social investment unveiled
- [Education and health funding](https://www.dailymaverick.co.za/article/2025-05-21-education-and-health-funding-slashed-while-fuel-levy-increased/?dm_source=dm_block_list&dm_medium=card_link&dm_campaign=main) slashed while fuel levy increased
- Tax tightrope — [what the Budget means for your wallet](https://www.dailymaverick.co.za/article/2025-05-21-tax-tightrope-what-the-budget-means-for-your-wallet/)

*[Live blog — follow updates on the original page](https://www.dailymaverick.co.za/article/2025-05-21-live-godongwana-budget-speech-2025/)*