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Ramaphosa Confirms Budget Negotiations Ahead of March 12 Speech
President Cyril Ramaphosa has confirmed that political parties are negotiating the national budget before its presentation in Parliament on March 12. Discussions within the Government of National Unity (GNU) aim to ensure a final budget that balances all stakeholders’ interests.
This comes amid strong opposition to the proposed 2% Value Added Tax (VAT) hike, including from some African National Congress (ANC) ministers. Ramaphosa addressed the National House of Traditional and Khoi-San Leaders on Tuesday, reassuring them that consensus would be reached before the budget is tabled.
He defended Finance Minister Enoch Godongwana’s tax proposals, stressing that they resulted from extensive consultations rather than arbitrary decisions. However, many citizens argue that raising VAT from 15% to 17% would be unaffordable.
In his weekly newsletter, Ramaphosa acknowledged the concerns raised by different parties, calling the recent budget delay “unfortunate.” He emphasized the need for transparency and consensus-building, adding that the GNU’s multi-party structure requires a new approach to governance.
While budget negotiations remain ongoing, Ramaphosa remains confident that a widely supported financial plan will be finalized in time for the official presentation.
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