HILARY JOFFE: How the budget was paid for in ‘school fees’
Treasury’s lesson was to take the compromises the GNU crafted and turn them into a fiscal framework that still delivers on core promises
22 May 2025 - 05:00
In February finance minister Enoch Godongwana unexpectedly shifted the fiscal strategy with a proposal to add R253bn to government spending over the next three years after years of cuts, funded mainly with a two percentage point increase in VAT.
In March he tabled a new version of the budget, which proposed to add just R230bn in spending, with the VAT increase down to one percentage point spread over two years...
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