The 2025 Budget Speech in South Africa has been unexpectedly postponed due to a disagreement within the Government of National Unity (GNU) regarding its content. Speaker of Parliament Thoko Didiza concedes that public funds may have been wasted as a result of the unprecedented decision.
Speaker of Parliament Thoko Didiza acknowledged that public funds may have been squandered due to the unexpected postponement of the 2025 Budget Speech . This unprecedented move, which saw Finance Minister Enoch Godongwana's planned address in Cape Town abruptly canceled, sparked a wave of condemnation from opposition parties.
Didiza explained that Parliament was compelled to postpone the speech after receiving notification from the executive that members of the Government of National Unity (GNU) had reached an impasse regarding the content of the budget. 'We must acknowledge that this is unprecedented,' Didiza stated. 'But as Parliament, we came to the realization that there would be no speech presented as the GNU Chief Whips requested a postponement.' The postponement was supported by parties within the GNU, including the Democratic Alliance. However, opposition parties, such as the African Transformation Movement (ATM), United Democratic Movement (UDM), Economic Freedom Fighters (EFF), and the Movement for an African Socialist Republic (MK Party), vehemently opposed the decision. ATM leader Vuyo Zungula demanded that the Finance Minister proceed with his Budget Speech, arguing that the notion of reassuring markets was misplaced as the House belonged to the people. Bosa leader Mmusi Maimane criticized the GNU, stating that despite having six months to prepare for the budget speech, they had failed to plan effectively. The postponement has raised concerns about the stability of the government and the potential economic repercussions of the delay in presenting the national budget
BUDGET SPEECH GOVERNMENT OF NATIONAL UNITY PARLIAMENT SOUTH AFRICA FINANCE MINISTER
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Demonstrators reach Parliament to hand over MOU ahead of budget speechThe list includes the scrapping of budget cuts and the improved service delivery.
Read more »
South Africa Awaits Budget Speech After Detailed SonaThe State of the Nation Address (Sona) has concluded, setting the stage for the upcoming National Budget Speech, which will detail the government's plans for the year. The Sona focused on concrete delivery, highlighting progress in key areas and outlining initiatives to address underperforming municipalities. The budget must now clarify funding sources for these commitments and address unforeseen challenges, including the withdrawal of U.S. foreign assistance.
Read more »
South Africa's Budget Speech: Balancing Constraints and OpportunitiesExperts attending a Deloitte roundtable ahead of South Africa's National Budget Speech acknowledge a challenging fiscal landscape despite recent economic improvements. The forthcoming budget is expected to reflect projections from the Medium-Term Budget Policy Statement, outlining government spending priorities and long-term goals under the new Government of National Unity. While there are concerns about funding sources for ambitious spending plans, economists highlight the potential for economic growth through reforms and increased investment in key sectors like electricity and logistics.
Read more »
Taxes Expected to Increase After Enoch Godongwana’s 2025 Budget Speech, South Africans OutragedSouth Africans are furious that taxes could be set to increase as the government attempts to cover up shortfalls during Godongwana’s 2025 budget speech.
Read more »
Pressure Mounts on South Africa's Finance Minister to Avoid Tax Hikes in Budget SpeechFinance Minister Enoch Godongwana faces growing calls to forgo tax increases in his upcoming Budget Speech. Political parties like the DA, Cosatu, and ActionSA are urging the government to prioritize economic reforms, job creation, and fiscal responsibility instead of burdening citizens with higher taxes.
Read more »
South African Finance Minister Faces Pressure for Economic Growth in Budget SpeechPolitical parties in South Africa's Parliament are urging Finance Minister Enoch Godongwana to prioritize economic growth in his upcoming Budget Speech. They desire a shift in focus towards debt containment and are against tax increases. Concerns have also been raised regarding potential increases in spending on State Owned Enterprises (SOEs). Economists anticipate the budget will reflect similar economic projections outlined in the Medium-Term Budget Policy Statement, despite the US-South Africa diplomatic tensions. Experts believe there are significant opportunities for South Africa, particularly in balancing stagnant revenue with spending needs and furthering reforms like 'Operation Vulindlela' to address supply-side constraints, particularly in the energy and logistics sectors.
Read more »