Latest News & Developments
South Africa's government proposes a VAT increase to address fiscal challenges, but experts warn it may disproportionately affect the poor and middle class, raising concerns about its impact on consumer spending and economic growth.
South Africa's planned staggered VAT increase from 15% to 16% is drawing criticism from economists and citizens alike, who argue that already-strained households will bear the brunt of the government's latest revenue-generating measure.
The IFP urges the government to seek alternative revenue solutions to alleviate the burden of the VAT increase on South African consumers, following a significant meeting with the ANC to address the ongoing budget impasse.
Discover how Deputy President Paul Mashatile's plans to reconfigure the Government of National Unity aim to address South Africa's pressing issues amidst ongoing fiscal disputes.
ANC's Fikile Mbalula labels the much-discussed rivalry between EFF leaders Malema and Shivambu as a 'fictional drama,' shedding light on their true relationship and the complexities of South African politics.
The Economic Freedom Fighters (EFF) has filed a legal challenge in the Western Cape High Court against the adoption of the 2025 Fiscal Framework, arguing it undermines democratic integrity and could lead to higher living costs for South Africans.
Discover how BOSA's innovative budget proposals could reshape South Africa's fiscal landscape and prevent a VAT increase, as Mmusi Maimane calls for responsible leadership.
Despite concerns over a VAT increase, RE/MAX of Southern Africa reports significant property market growth, driven by increased sales and favourable interest rates, with insights from industry leaders on future trends.
"The poorest of the poor will take the brunt even if it's 0. 5% this year and 0. 5% the following year"
The core staple foods of maize meal, rice, cake flour, white sugar, sugar beans, samp and cooking oil – all saw price increases in March
Finance Minister Godongwana's delayed 2025 budget introduces a phased 1% VAT increase, the third in 34 years. This article examines how this contentious decision will impact South Africa's poor, middle class, and businesses, while exploring alternative approaches to broaden the tax base through job creation and economic growth.
National budget approved amid call for action on tax collection and wasteful spending.
The DA announced that it will be heading court to challenge the budget after the ANC managed to gather support for the budget to be passed in its approval as part of the GNU.
In a chaotic Budget Vote marked by heckling and legal challenges, South Africa's political landscape faces uncertainty as parties clash over fiscal policies that could impact millions.
Following ActionSA's successful campaign against a proposed VAT hike, South Africans can expect lower inflation and improved consumer confidence.
The imminent National Budget Vote is fraught with potential pitfalls as coalition tensions simmer.
South Africa's Standing Committee on Finance is set to vote on the fiscal framework, potentially deciding the fate of Finance Minister Godongwana's proposed VAT increase and testing the fragility of the Government of National Unity. Economic experts warn of various potential outcomes and their implications for the country's financial markets and economic stability.
South Africa faces a critical revenue collection crisis as a new National Treasury report reveals middle-class taxpayers have reached their financial limits. The report shows a 16% increase in millionaire taxpayers while warning that the growing disparity between tax burden and public service delivery is unsustainable. Economist Fatsani Banda cautions that without immediate fiscal discipline and anti-corruption measures, economic stability is at serious risk.
The rand has fallen nearly 1% against the US dollar as Parliament faces a critical Budget deadline. With GNU parties divided over proposed VAT increases and economists warning of dire consequences if consensus isn't reached by Wednesday, South Africa's economy hangs in the balance
While food inflation shows signs of easing, ongoing challenges from loadshedding, high transport costs, and drought conditions continue to threaten food security and strain household budgets. The report reveals changing consumer behaviors, with many South Africans switching to more affordable protein alternatives as they navigate the country's complex food pricing landscape.
The March 2025 household affordability index released by the Pietermaritzburg Economic Justice and Dignity Group (PMBEJD) indicates that the food basket has increased by R16,14 (0,3%), from R5 313,22 in February 2025 to R5 329,36 in March 2025.
Economists forecast a significant decrease in petrol prices for South African motorists in April, driven by a stronger Rand and lower international oil prices.
Economists forecast a significant decrease in petrol prices for South African motorists in April, driven by a stronger Rand and lower international oil prices.
Given the recent Budget's impacts on South Africans plus unchanged interest rates, consumers are in for a hard time.
PA leader Gayton McKenzie insisted that undocumented immigrants working in restaurants and receiving healthcare services should leave, arguing that their presence harms the local economy and contributes to unemployment among South Africans.