Welcome to Business Day's comprehensive coverage of Budget 2025. We bring you the latest insights, predictions, expert opinions and more about the most important fiscal event of the year. This evolving page will regularly update with new information, analysis, and reactions as they unfold. 

Get all the latest news after the government announced an unprecedented postponement of the budget speech on Wednesday.

Join us as we navigate the 2025 budget's tightrope. We will offer you a detailed and well-rounded view of what to expect and how it may impact various sectors of the economy.

Tiisetso Motsoeneng
Acting editor 

Latest news

DA budget proposals did not include NHI and Bela Act

DA outlines list of growth budget proposals to President Cyril Ramaphosa

Thando Maeko
Political Reporter

Vat increase effective from May 1 because minister made the announcement

SA needs to prepare for the VAT increase, and a process will take place in parliament that may or may not ratify Enoch ...

Linda Ensor
Parliamentary Correspondent
National Editor's Choice

ANC policy agenda at the heart of budget clash with DA

ANC sticks to its guns and rejects demands of GNU partner DA

Thando Maeko
Political Reporter
Economy Editor's Choice

Budget faces high-stakes parliamentary showdown

MPs have the power to make changes, with DA saying it won’t support Godongwana’s latest offering

By Hilary Joffe

Economists see growth potential in 2025 budget but warn of consumer strain

There are measures to foster growth and maintain fiscal discipline, while tax hikes with no relief pile pressure on ...

By Jana Marx

Proposed tax change to hit foreign retirement funds

The change relates to the cross-border treatment of retirement funds accumulated abroad

Linda Ensor
Parliamentary Correspondent

Minerals Council flags urgent need for more measures to lift mining sector ...

A drop in iron ore production saw SA’s mining output extending a three-month downward trend in January

Jacob Webster
Companies Reporter

Communications budget cut by a third as broadband spend slows

The reduction in expenditure is mainly due to cuts in spend for the department’s ICT infrastructure programme

Mudiwa Gavaza
Technology Correspondent

Scopa chair Songezo Zibi says contentious budgets ‘new normal’

Zibi says rigorous parliamentary engagement will replace rubber-stamping

Khulekani Magubane
Financial reporter

Cabinet says tax hikes will ‘finance SA’s sustainability’

Khumbudzo Ntshavheni says budget strikes a balance between SA’s fiscal framework and government’s funding priorities

By Luyolo Mkentane

Sars to get R7.5bn over the next three years

Tax boss Edward Kieswetter wins battle for extra funds needed to operationalise revenue systems

Linda Ensor
Parliamentary Correspondent

VAT hike a ‘punch to the gut of already struggling South Africans’

Finance minister Enoch Godongwana opts for a half a percentage point hike in each of the next two years

By Luyolo Mkentane

BUDGET IN A NUTSHELL: Treasury compromises on VAT increase

Grant recipients and taxpayers bear the brunt of smaller VAT hike

Linda Ensor
Parliamentary Correspondent

DA will not support budget, says John Steenhuisen

Enoch Godongwana delivers budget without majority support in parliament

By Natasha Marrian and Hajra Omarjee

Who got the money? Winners and losers in the 2025 budget

Treasury’s budget office head Edgar Sishi says due to adjustment in terms of the decision on tax revenue hikes, other ...

By Jana Marx

Budget adjustments take shape as Treasury sticks to 1.9% growth projection

Treasury plans to raise an extra R28bn in 2025/26 and R14.5bn in 2026/27 by gradually increasing VAT

By Jana Marx

R1-trillion committed to infrastructure spend but Treasury says no SOE ...

The government will not make an equity injection into state-owned freight, ports and logistics company Transnet

Thando Maeko
Political Reporter

Treasury decisions to be open to wider scrutiny

This is to avoid a political impasse, which led to the budget being delayed by three weeks

Thando Maeko
Political Reporter

Enoch Godongwana appoints Africa Expert Panel members to help solve debt ...

The recommendations of the panel will feed into the G20 process

Linda Ensor
Parliamentary Correspondent

Welfare grant recipients get modest inflation-beating increases

Social spending will rise by R8.2bn over the medium term, down from the R23.3bn increase proposed in February

Tamar Kahn
Health & Science Correspondent

Still no relief in budget for US cuts to grants for HIV/Aids

The only move so far is that national health will appoint staff working in its central chronic medicines dispensing and ...

By Tamar Kahn
National Editor's Choice

SA to incentivise local EV production

Budget sets aside R1bn for a scheme that aims to increase participation and investment in sector

By Reuters and Nqobile Dludla

THE LATEST INSIGHT FROM OUR EXPERT WRITERS

Opinion Editor's Choice

EDITORIAL: A step forward or a stumble?

Democracy is working but budget negotiations in parliament are bound to be messy

Opinion Editor's Choice

NATASHA MARRIAN: Few neat options over budget impasse

The ANC and DA may not like it, but the two finding each other would be the best outcome

Natasha Marrian
Business Day editor-at-large
Opinion Editor's Choice

LEON LOUW: Budget gets a six out of ten

The most obvious way to cut government spending would have been to abolish most departments and ministers

By Leon Louw
Opinion Editor's Choice

HILARY JOFFE: Tax compromise kicks the can right out of neighbourhood

For at least two reasons minister and his team may battle to get markets to believe in fiscal plan

Hilary Joffe
Columnist

LISETTE IJSSEL DE SCHEPPER and SHANNON BOLD: SA misses chance to speed up ...

While the clock is still pointing to an upswing, SA is moving in the wrong direction

By Lisette IJssel de Schepper and Shannon Bold
Opinion Editor's Choice

PETER BRUCE: Budget’s lack of a growth pitch stumps even Mantashe

Our finance ministers are bank tellers, glorified accountants or financial advisers to rest of cabinet

Peter Bruce
Editor-at-large & columnist

KHAYA SITHOLE: VAT hike may come back to haunt GNU

Besides the financial squeeze, people are also experiencing declining service delivery and find the idea of paying more ...

Khaya Sithole
Columnist
Opinion Editor's Choice

RICARDO SMITH: No more rabbits to pull out of the hat

South Africans are paying the price of the government endlessly kicking the fiscal can down the road

By Ricardo Smith

NTSAPHOKAZI MADYIBI: SA needs bold thinking, not a budget without vision

Raising VAT does not solve the fundamental issue of low economic growth; it only deepens inequality and financial ...

By Ntsaphokazi Madyibi

GAYTON MCKENZIE: The DA can grab their ball and leave

Can the DA really believe it would be better to bomb the GNU rather than support a compromise budget?

By Gayton McKenzie

STUART THEOBALD: Raid the piggybanks, add to the debt pile or cut spending

No sign of compromise across the GNU a day before the revised budget

JABULANI SIKHAKHANE: Loose lips reveal details not meant to be made public

Godongwana and company talking about the Sars commissioner was picked up by microphones

By Jabulani Sikhakhane
Opinion Editor's Choice

MARIANNE MERTEN: Confusion about political processes underlying budgets in ...

It is unclear what has been achieved in the past two weeks of discussions in the multiparty cabinet

Opinion Editor's Choice

ISMAIL JOOSUB: A good education is a right, not an expense item

Cuts to the education budget don’t just cripple the system; they lead to the destruction of the economy

By Ismail Joosub
Opinion Editor's Choice

RASHAAD AMRA: How a well-managed coalition can ensure fiscal sustainability

A middle ground that benefits all could be found between the ANC’s interventionist instincts and the DA’s libertarian ...

By Rashaad Amra
Opinion Editor's Choice

MICHAEL AVERY: Chance for Godongwana to break cycle, but don’t hold your ...

A responsible government would ensure social spending drives long-term economic growth

Michael Avery
Columnist

KEVIN ALLAN: Does local government deserve a larger slice of the budget ...

Given the pressure on Treasury to cut spending, it is hard to see how local government deserves an increase

By Kevin Allan

KURT YEO: Tax tobacco products in proportion to their harm

A blanket approach on so-called sin taxes neglects considerations such as reducing tobacco by encouraging more people ...

Opinion Editor's Choice

ALAN BEESLEY: Addressing fiscal crisis starts with funding Sars properly

It collects more than 90% of government revenue, yet it remains chronically underfunded

By Alan Beesley
Opinion Editor's Choice

CLAUDE DE BAISSAC: ANC can’t see hard facts hitting SA

Why SA must end fiscal tinkering and economic dithering

By Claude de Baissac

GIVENS KGASI: Strategies for SA traders amid budget delays and policy ...

Uncertainty can provide opportunities for traders to capitalise on market movements

By MJ Givens Kgasi
Opinion Editor's Choice

EDITORIAL: Judge budget 2.0 on the hard choices it makes

One budget delay may be evidence of a functioning democracy while another delay would suggest an unstable coalition

ANN BERNSTEIN: Runaway spending, not VAT, is the real budget problem

SA needs an actionable growth strategy not tax hikes and political compromises

By Ann Bernstein

ZUKO GODLIMPI: There is a lot of work to do after the budget

Articles highlight the need for a better way of managing national development and selecting policies that can best ...

By Zuko Godlimpi
Opinion Editor's Choice

MICHAEL MORRIS: Crisis is about entrenched woes, not budget

Complacency abounds amid the world’s highest youth joblessness, a paltry growth rate and insufficient investment

HILARY JOFFE: Budget process requires a deeper debate

SA needs a far richer debate on fiscal policy if it is to come up with a credible income statement and balance sheet

Hilary Joffe
Columnist

DAVID LEWIS: Budget fiasco a sideshow in new world order

VAT glitch shows SA’s democracy is holding up rather well — unlike Trump and JD Vance

By David Lewis
Opinion Editor's Choice

PETER ATTARD MONTALTO: VAT and foreign policy are one

The GNU could emerge stronger if it gets the budget right

By Peter Attard Montalto

MULTIMEDIA

WATCH: The DA’s take on budget 2025

Business Day TV speaks to DA leader John Steenhuisen

National Editor's Choice

WATCH: Budget 2025 analysis

Business Day TV speaks to a panel of experts for their take on the highlights from the finance minister’s announcement

WATCH: Unpacking the tax decisions from the 2025 budget

Business Day TV spoke with Devs Moodley, senior manager at Forvis Mazars, Pieter Faber from SAICA and Mamohlwa Mohlola ...

By Business Day TV

WATCH: Business reacts to budget 2025

Business Day TV spoke with Khulekani Mathe, CEO of Busa and Busi Mavuso, CEO of BLSA

READ IN FULL: Enoch Godongwana’s 2025 budget speech

The finance minister presented the national budget in Parliament. Read the full speech

Politics Editor's Choice

WATCH: The politics of Budget 2025

Business Day TV speaks with political analysts Asanda Ngoasheng and Daniel Silke

Economy Editor's Choice

WATCH: Budget 2025 and how it affects your finances

Business Day TV speaks to Devs Moodley, senior manager at Forvis Mazars and Harry Joffe, legal services head at ...

WATCH: Budget 2025 — take two

Minister in the presidency Khumbudzo Ntshavheni was confident on Tuesday that the budget will be tabled on Wednesday

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