Minister Godongwana reflects on his 2025 Budget Speech

National Treasury has proposed to increase Value-Added-Tax by one-percentage point from 15% to 16% over the next two years. Minister of Finance Enoch Godongwana tabled the revised 2025 budget in Cape Town yesterday. Treasury says the increase will be characterised by a zero-point-five percentage point increase this year from the 1st of May, and again next year from the 1st of April. The DA says it will not support the budget and Parliament is still to vote on it. The budget addressed several key points, including the country's current economic status, growth projections, substantial debt servicing costs, increases in VAT and sin taxes, and the continuation of the Social Relief of Distress grant. Minister Godongwana now joins us virtually to further discuss the budget... For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.