In a highly anticipated event, Minister of Finance Enoch Godongwana will deliver the 2025 Budget Speech in the National Assembly on Wednesday, February 19, at 14:00. The speech will take place at the Nieuwmeester parking, Dome (corner Commercial Street and Plein Street).
During the speech, Minister Godongwana will introduce the Appropriation Bill and table the 2025 Division of Revenue Bill, which will be processed by Parliament in the following months. The Budget Speech aims to balance economic growth with support for vulnerable members of society, despite limited resources.
Key Expectations from the Budget Speech
The speech is expected to outline the government’s financial, economic, and social commitments, including a detailed plan for 2025 spending and proposals for revenue collection. Some of the key areas that may be addressed include:
- Corporate Income Tax: The government may focus on enforcing and administering the 15% global minimum corporate tax, which is expected to boost the corporate tax base by R8-billion by 2026/2027.
- Personal Income Tax: Despite calls for adjustments, the government may not adjust personal income tax brackets due to ongoing fiscal pressures.
- Social Security and Grant Reforms: The government may consolidate public employment programmes and reform the grant system to improve efficiency and alignment with employment initiatives.
How to Follow the Budget Speech
The 2025 Budget Speech will be broadcast live on Parliament TV (DSTV Channel 408) and livestreamed on Parliament’s website and social media platforms, including Parliament’s YouTube Channel. Members of the public can also follow parliamentary sittings live on various platforms.
