Opposition parties in Parliament have rejected the postponement of the National Budget Speech for the 2025-2026 fiscal year.
Finance Minister Enoch Godongwana was set to present the budget in Cape Town on Wednesday, 19 February which would have been the first under the Government of National Unity (GNU). However, it was postponed on the 11th hour.
2025 NATIONAL BUDGET SPEECH POSTPONED
Ahead of the speech, reports surfaced that the Value Added Tax (VAT) was set to increase by 2% to 17%. However, because of disagreements within parties who are part of the Government of National Unity (GNU), the budget was postponed.
Speaker of Parliament Thoko Didiza said party chief whips held a meeting and agreed to a postponement so that they can reach a consensus over contentious issues, including the reported VAT increase.
The Economic Freedom Fighters (EFF) said they reject any increases in VAT which will place the burden of revenue generation on the poor!
EFF leader Julius Malema said the postponement was unprecedented and that this isn’t the practice they want to set for Parliament.
“It is going to be your legacy Speaker that during your tenure Parliament, could not debate and adopt the budget. We are saying to you you’re denying this body [Parliament] an opportunity to be receiving a budget, debate it, accept it or reject it. You are now subjecting the budget of South Africa to party politics when it is supposed to be above party politics,” he said.
Likewise, the African Transformation Movement (ATM) also rejected the postponement saying they cannot allow a case of incompetence from the executive and make it look like the whole Parliament is incompetent.
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