Budget speech postponement slammed as embarrassing

Independent Economic Analyst, Professor Bonke Dumisa, says it’s unfortunate that the differences between the ANC and DA have played out publicly in an embarrassing fashion.

Prof Dumisa was reacting to the postponement of the 2025 budget speech.

The move was attributed to the Government of National Unity parties’ failure to agree on the proposed 2% VAT increase.

It is the first time in post-apartheid South Africa that the tabling of the national budget had to be pushed back, with some social commentators raising concerns about the potential long-term negative impact of such a move – saying it could erode public trust and dampen investor confidence.

Finance Minister, Enoch Godongwana, says he will table the budget on March 12.

Addressing the media shortly after the shocking announcement, Godogwana said Cabinet has its work cut out in balancing the country’s competing interests.

 

Prof Dumisa says while he might not always agree with the DA- he believes the party’s opposition to the proposed VAT increase is commendable.

Political Analyst, Prof Sam Koma, says it’s time for the ANC to start taking its GNU partners seriously and appreciate their input in matters of national unity such as the budget.

Opposition parties in Parliament have slammed the historic developments as absurd.

ActionSA describes it as a disgrace, while EFF leader, Julius Malema, says it is proof that government has collapsed.

President @Julius_S_Malema reacting to the postponement of the budget speech today.

What our people must know is that, there’s no government without a budget. pic.twitter.com/D3WpYUCXWG

— Sixolise Gcilishe (@SixoGcilishe) February 19, 2025

The ANC’s Fikile Mbalula, nonetheless, believes that government did the right thing by postponing the event, albeit at the last minute.

[WATCH] The Minister of Finance has done the right thing by engaging everyone, and this postponement is the result of that engagement.

The government must take everyone into confidence regarding the reasons for the postponement.
#BudgetSpeech2025 pic.twitter.com/0iz0IOniWu

— ANC SECRETARY GENERAL | Fikile Mbalula (@MbalulaFikile) February 19, 2025

Meanwhile, in another unprecedent move in the country, the ANC’s biggest partner in the GNU –  the DA – has launched a campaign to stop the proposed VAT hike.

To the surprise of many South Africans  – the former opposition party, which is believed to only care about the interest of the privileged, is pushing the agenda to cushion the poor.

It’s launched a petition, urging South Africans to show support for the party’s bid to “fight for a national budget that priorities economic growth and job creation.”

🚨 DA pressure halts the VAT hike! The Budget Speech was postponed due to its failure to deliver pro-growth & pro-jobs reforms.

SA needs more jobs, NOT tax hikes! We reject any budget that doesn’t drive real economic growth. Join the fight by signing our petition at… pic.twitter.com/DWjbZaJRHJ

— Democratic Alliance (@Our_DA) February 19, 2025