South Africa’s Finance Minister Enoch Godongwana presented his budget speech in parliament, sparking division among political parties. The Democratic Alliance (DA) stood firm in their opposition to a proposed one percentage point VAT increase staggered over two years. Godongwana initially planned for a two percentage point hike in VAT, but revised his proposal following criticism from coalition government partners.
The DA, along with unions, the Economic Freedom Fighters (EFF), and labour federation Cosatu, expressed their refusal to accept any VAT increase. DA leader John Steenhuisen emphasized that the budget would negatively impact South Africans, making them poorer and raising food prices. He called for strong growth measures, job creation, higher living standards, and tax cuts over the next three years instead.
Steenhuisen stated that the DA would not support the budget, highlighting the ANC’s responsibility to address the financial challenges without their support. The proposed VAT increase would be implemented in two phases, generating significant tax revenue in the coming years.
Cosatu’s parliamentary coordinator, Matthew Parks, criticized the budget for relying on a VAT hike as a primary funding source, neglecting adjustments to personal income tax brackets. Parks highlighted the impact on working-class families already struggling with debt and a weakened economy.
ActionSA MP Alan Beesley questioned the government’s justification for tax hikes, suggesting that wasteful spending should be cut to finance social grant adjustments and relief measures. He pointed out redundant deputy minister positions and failing government programs as areas for potential savings.
The EFF condemned the finance minister’s fiscal strategy as reckless and disregarding the realities faced by the poor and working class. The party called for a revision of the proposed fiscal framework and revenue measures by the standing committee on finance.
In contrast, the Good party announced its support for the budget, citing the reduced VAT increase and maintained spending on social welfare, education, and infrastructure. Rise Mzansi leader Songezo Zibi and Build One South Africa leader Mmusi Maimane expressed concerns about the VAT increase and urged the government to prioritize economic growth and efficiency in infrastructure.
Overall, the budget speech by Finance Minister Enoch Godongwana sparked debate and opposition from various political parties in parliament, highlighting the challenges of balancing fiscal measures with the needs of the country’s citizens. The advancement of technology has brought about many changes in our daily lives, making tasks easier and more convenient. One of the most significant changes in recent years is the rise of smart homes, which are equipped with various devices and sensors that can be controlled remotely through a smartphone or other smart devices.
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