NATIONAL Treasury is set to explain the technical process that must be undertaken regarding the 2025 budget.

This is set to be broadcast at 1pm today (Wednesday).

This comes as the backdrop of Finance Minister Enoch Godongwana agreeing to a court order setting aside his decision of 12 March to increase VAT by 0.5 percentage points.

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Godongwana was the main respondent in his capacity as minister of finance in this matter, which was brought to court by his fellow cabinet partners, the (DA) and the EFF.

They agreed to have the matter settled out of court, and the Western Cape High Court subsequently ratified the agreement on Sunday.

Godongwana welcomed the court order, which was ‘consistent’ with his announcement on 23 April to suspend the VAT increase.

“Having already announced the withdrawal, I [the minister] felt that I would no longer have cause to continue with the court case,” said Godongwana.

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