Budget 2025: a political tug-of-war with you wallet at stake Budget 2025 could lead to poll

Reza Hendrickse

ALL eyes were on Finance Minister Enoch Godongwana this week, following last month’s postponed Budget Speech, which some GNU members refused to support. The initial 2% proposed VAT hike drew harsh criticism and was rejected by GNU members who demanded more emphasis on growth. In the days that followed, the recovery in the rand and bond yields suggested that the market was taking the GNU’s first real test in its stride. Rather than indicating dysfunction, the experience demonstrated that the GNU is, in fact, working. Like in any relationship, a compromise is necessary to move forward. Speculation around what that compromise might look like was rampant leading up to the event. Analysts felt a 0.5% to 1% VAT hike, coupled with spending cuts and more explicit measures to boost growth,…

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Sunday Independent (Digital) - 1 Issue, 2025-03-16

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