2025 budget speech postponed to March 12

The much-awaited first budget speech of the Government of National Unity (GNU) to be presented by the Minister of Finance, Enoch Godongwana, yesterday was postponed to March 12.

The postponement follows speculation of a possible 2% increases in value-added tax (VAT) covered in the media, where different parties and community members shared their perspectives.

Speaker of parliament Thoko Didiza announced the postponement during the parliamentary proceeding in Cape Town.

ALSO READ: Students share their expectations for the 2025 budget speech

Didiza said there was no agreement between the parties in the executive about the budget proposals.

She said the cabinet decided not to present the budget to allow themselves enough time to relook the budget and return to parliament in March.

She noted the chief whips of various political parties shared their perspectives on the matter.

“Some agreed and requested we ask the executive to give us a definite time in March – to deal with the pressures of time for the legislature. Secondly, some were saying they are not accepting the postponement.”

Opposition parties like the UDM, EFF, MKP and ATM did not welcome this decision.

EFF leader Julius Malema said it was unprecedented, and this was not a practice they wanted to set for this parliament.

He criticised the executive for denying parliament the opportunity to debate and adopt a budget, accusing them of subjecting the budget to party politics.

ALSO READ: Don’t neglect your budget this festive season

MKP’s Mzwanele Manyi said they were shocked, citing it was a serious indication of the crisis this country is facing.

He said the country had no leadership. He suggested the democratic processes should be allowed to unfold if South Africa truly is a democracy.

Manyi called for the Minister of Finance to present the budget, emphasising they do not want to hear rumours.

“We hear disturbing rumours that the VAT would have been increased by 2%. In other words, we hear rumours that this ANC-led government wanted to impoverish our people.

“We have no sympathy with that. The minister must come here and say what he wanted to say and then we will deal with it here.”

Nqabayomzi Lawrence Saziso Kwankwa from UDM questioned why they were not part of that discussion.

He said as a result, UDM cannot support a decision they know absolutely nothing about.

“Secondly, they should not treat a proposal from the executive like a budget as fit and complete. It is only final after the parliament has approved it,” he noted.

ALSO READ: Tips for staying on budget when renovating your home

“It is logical if the minister planned to table a proposal, he should have tabled it in parliament to consider. And if parliament does not agree with that process, we can arrive at a different outcome altogether.”

FF+ chief whip Dr Cornelius Petrus Mulder said they support the decision and give ample time for national unity to come to the right conclusion.

He said it was not true that parliament would not have an opportunity to discuss this.

“When the time is right, all representatives of the people discuss the budget in full,” he added.

Mulder said this while acknowledging it was the first time since the new democracy in 1984 that this had happened.

ALSO READ: Budgeting tips for homeowners

“We also understand the government of national unity is serious about South Africa and about the future.

“Because of that, understand it could happen where the Minister of Finance needs more time to have these discussions and for the executive to discuss it.”

Other parties including ACDP, ALJAMA, ANC, BOSA, DA, GOOD, IFP, PA, and PAC also agreed with the postponement but requested a timeline agreement, while others criticized the GNU without voicing their support or disapproval of the postponement.