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Tuesday, May 20, 2025

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national treasury

KwaZulu Natal MEC Siboniso Duma promises to clear R1. 5 billion payment backlog affecting service providers

Transport MEC Siboniso Duma reveals a R1. 5 billion payment crisis affecting over 2,000 service providers in KwaZulu-Natal, promising urgent action to resolve the issue and restore service delivery.

News Politics
Hope Ntanzi|Published

EFF calls for transparency in 2025 budget hearings amid economic crisis

The EFF demands genuine public engagement and transparency in the 2025 budget hearings, urging Parliament to abandon its 'rubber-stamp' approach for a more inclusive process.

News Politics
Hope Ntanzi|Published

Malema calls for resignation of Godongwana over VAT increase

Julius Malema of the EFF demands the resignation of Finance Minister Enoch Godongwana following a court ruling that halted a controversial VAT increase, claiming it as a victory for South Africa's working class.

Cape Argus News
Mashudu Sadike|Published

Paul Mashatile outlines ANC's strategy to strengthen the GNU

Discover how Deputy President Paul Mashatile's plans to reconfigure the Government of National Unity aim to address South Africa's pressing issues amidst ongoing fiscal disputes.

News South Africa
Hope Ntanzi|Published

Relief for taxpayers after close 2025 Budget Vote

As policymakers convene to turn these discussions into actionable changes, the prospects of a fairer tax framework stand to benefit millions.

Business Economy
Nicola Mawson|Published

Five things to know about the chaotic Budget 2025

The DA announced that it will be heading court to challenge the budget after the ANC managed to gather support for the budget to be passed in its approval as part of the GNU.

News Politics
Sinenhlanhla Masilela|Published

Parliament passes Budget despite rejections

In a chaotic Budget Vote marked by heckling and legal challenges, South Africa's political landscape faces uncertainty as parties clash over fiscal policies that could impact millions.

News Politics
Nicola Mawson|Published

Economists fear crucial budget vote could threaten economic stability as tensions rise

South Africa's Standing Committee on Finance is set to vote on the fiscal framework, potentially deciding the fate of Finance Minister Godongwana's proposed VAT increase and testing the fragility of the Government of National Unity. Economic experts warn of various potential outcomes and their implications for the country's financial markets and economic stability.

Business Report Economy
Ashley Lechman|Published

ANC seeks BOSA's support for budget amid ActionSA's rejection

The ANC is in a tight spot as it seeks support for the 2025/26 national budget from BOSA, which has outlined specific conditions for its endorsement. Will these negotiations lead to a breakthrough?

News Politics
Simon Majadibodu|Published

Can Tshwane's debt-relief programme solve its R30 billion financial crisis?

Discover how Tshwane's new debt relief programme offers vital support to residents and businesses facing financial challenges amidst a R30 billion debt crisis.

News Politics
Hope Ntanzi|Published

Parliament's watchdog demands answers from municipalities over financial audit crisis

The Standing Committee on Public Accounts (Scopa) is set to summon municipal councils and provincial MECs following revelations that 10 municipalities failed to submit crucial financial statements to the Auditor-General, threatening accountability in local government.

News Politics
Mayibongwe Maqhina|Published

Record R527. 2 billion Provincial Budget sets Gauteng's economic vision

Gauteng Finance MEC Lebogang Maile presents an ambitious R527. 2 billion budget aimed at transforming the province's economic landscape. With targeted investments in health, education, and development, the plan seeks to attract R800 billion in investments while addressing crucial challenges in South Africa's economic powerhouse.

News Politics
Thabo Makwakwa|Published

Education, Health lead Gauteng's R211 billion Provincial Budget for 2025

Gauteng's ambitious R211 billion budget allocation reveals major investments in education and healthcare, with R69. 6 billion and R66 billion respectively earmarked for these crucial sectors. MEC Lebogang Maile's comprehensive financial strategy aims to tackle unemployment, inequality, and service delivery challenges across the province.

News Politics
Thabo Makwakwa|Published

Budget 2025 | National Treasury allocates R19. 1 billion to retain teachers amid job cuts

Amid budget cuts leading to job losses in education, Finance Minister Enoch Godongwana announces a R19. 1 billion allocation to retain teachers, addressing the challenges of high learner-teacher ratios and ensuring effective education in South Africa.

News Politics
Hope Ntanzi|Published

eThekwini Municipality's initiative for youth empowerment through sports

The Bridge City Youth Development Hub aims to combat crime and social issues through sports and education, with the eThekwini Municipality seeking approval for its implementation

News South Africa
Zainul Dawood|Published

Cosatu calls for progressive Budget alternatives ahead of March 12 Parliament return

Cosatu welcomes Cabinet's decision to reconsider the 2% VAT hike while emphasising the need for a balanced budget that strengthens public services, stimulates economic growth, and protects the working class. The union federation outlines key priorities ahead of the March 12 Budget presentation.

Business Report Economy
Opinion|Published

SA economic recovery requires spending cuts, not VAT hikes, says economist Nicky Weimar

Nedbank's chief economist Nicky Weimar outlines a pragmatic approach to South Africa's economic challenges, advocating for reduced government spending and diplomatic caution with the US amid global trade tensions. With fiscal reserves depleted and growth stagnating, she warns against quick-fix solutions and emphasises the need for structural reforms

Business Report Economy
Philippa Larkin|Published

Beyond big business: SMEs as South Africa's tax base solution

South Africa's narrow tax base poses significant economic challenges, with just 2. 6% of the population contributing over 76% of personal income tax. This analysis explores how integrating SMEs into the formal economy could revolutionise the country's tax system and drive sustainable economic growth.

Business Report Economy
Opinion|Published

Energy expert sounds alarm on Eskom’s municipal debt

Energy experts warn that the escalating R100 billion debt owed by municipalities to Eskom poses a significant threat to the power utility and South Africa's economy

Mercury News
Thami Magubane and Mayibongwe Maqhina|Published

Historic GNU Budget delay: a turning point for South African politics

In an unprecedented move, South Africa's 2025 Budget Speech has been postponed due to GNU disagreements. While markets react nervously, this delay might signal a positive shift towards more collaborative governance.

Business Report Economy
Opinion|Published

Proposed VAT increase could push South Africans deeper into debt crisis

Financial experts warn that a potential VAT increase could devastate South African households already struggling with rising living costs and mounting debt. The postponement of the Budget Speech has left the nation anxious about possible tax hikes.

Business Report Economy
Ashley Lechman|Published

Budget postponement signals urgent need for consensus in GNU

The unexpected postponement of South Africa's national budget until March 12 reveals a fractured coalition government, prompting urgent calls for consensus as the clock ticks down on urgent economic decisions.

Sunday Tribune News
Taschica Pillay|Published

Former finance ministers call for fiscal funds to be found elsewhere

In a critical moment for South Africa's economic landscape, former Finance Ministers Nhlanhla Nene and Malusi Gigaba have shed light on the unique political factors that contributed to the postponement of the national budget.

Sunday Tribune News
Taschica Pillay|Published

Exploring alternative revenue strategies amid South Africa’s economic challenges

SARS Commissioner Edward Kieswetter raises concerns about proposed tax increases, advocating for better funding and modernisation of the tax system to recover uncollected taxes and support vulnerable households

Sunday Independent News
Sizwe Dlamini|Published

Some GNU partners want cut on spending in revised budget

Finance Minister Enoch Godongwana faces mounting pressure from GNU partners as they debate budget cuts and a controversial VAT increase ahead of the 2025 budget presentation.

News Politics
Mayibongwe Maqhina|Published