Smaller VAT hike among budget options presented to Treasury
Task team presents budget funding options to Treasury and cabinet
04 March 2025 - 07:31
UPDATED 04 March 2025 - 21:33
A VAT hike of 0.75 percentage points is among the options presented to the National Treasury for consideration to enable it to fund the R60bn budget shortfall over the medium term.
Though the previous proposal to hike VAT by two percentage points, which would have added R60bn to the R2-trillion budget, was rejected by the cabinet in February, Business Day understands that an increase remains on the cards because the cabinet could not agree to back down on various “unaffordable” policies...
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