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Anxiety is rising as the date to approve the budget draws near and there seems to be no final resolve over the budget. The Democratic Alliance (DA) and African National Congress (ANC) have been behind closed doors negotiating on the budget.
Reports are that there might be light at the end of the tunnel as the two parties within the Government of National Unity (GNU) seem to find each other. Following the weekend special conclave, the DA Leader John Steenhuisen will tomorrow 1 April 2025, brief the media on the outcomes of the budget negotiations.
The ANC has accused the DA of being opportunistic using the expropriation bill in exchange for their vote for the proposed budget that include a 2% VAT hike, the Minister of Finance Enoch Godongwana said the DA demanded that the bill be adjusted to their demands to include the words ‘just and equitable compensation’ to exclude ‘without compensation’.
The DA has defended this position and in turn said, the ANC refused to agree to their terms, left the meeting to mobilise votes from other parties to get the budget approved without them, but they were met with marked failure and came back to the DA with a better offer to reach a compromise; it is speculated that both parties agreed to 1% VAT increase for only one fiscus year.
Fikile Mbalula, the Secretary General of the ANC is set to hold a media briefing tomorrow to report on the outcomes of the ANC’s National Executive Meeting (NEC) over the weekend discussing pressing matters; it is expected that he will also touch on the budget issue.
Much is at stake regarding the budget, citizens, markets and business are watching the developments with keen interest, whatever the outcome, will shape the direction in which the country will go, it will either boost investor confidence or discourage it.
Steenhuisen will address the media at 8: 30 at the steps of the National Council of Provinces.
