This week, Parliament was forced to postpone the Budget Speech after Finance Minister Enoch Godongwana’s 2025 Budget Speech after Cabinet ministers from the Government of National Unity rejected a proposal to hike interest rates during an emergency Cabinet meeting on Wednesday morning.

Treasury documents later confirmed they intended to hike VAT by two percentage points in order for the government to fund the hiring and retention of new teachers, doctors, nurses and other frontline workers, while they also intended to improve existing rail network and expand the early childhood development policy.

The revised budget would now be tabled on March 12 at the Nieuwmeester parking, Dome, in the National Assembly. Godongwana’s speech will determine how government funds will be distributed, following the priorities set by President Cyril Ramaphosa’s State of the Nation Address.

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