Update

Speaker Thoko Didiza announced that the Budget Speech has been postponed – for the first time in 30 years – after Deputy President Paul Mashatile, the leader of government business, informed her that parties from the Government of National Unity cannot agree on the budget.

It will now only be tabled in March, with a date yet to be announced.

Finance Minister Enoch Godongwana will deliver the Budget Speech in the National Assembly at 14:00 today.

According to Parliament, Godongwana will also introduce the Appropriation Bill and table the 2025 Division of Revenue Bill, which Parliament will process in the following months.

“During the Budget Speech, the finance minister indicates the allocation of financial resources to the national government’s priorities outlined by President Cyril Ramaphosa in the State of the Nation Address,” a post by Parliament reads.

With resistance expected if Godongwana moves to raise VAT, The Witness reports that borrowing is one of his few remaining options to address the projected R300b budget shortfall.

Treasury documents indicate that last year’s R258b deficit is set to rise to R300b in the 2025/26 financial year.

Find out here how your budget will be impacted:

Build-up show here:

*The article has been updated since it was first published to indicate that the Budget Speech has been postponed.

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