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[FILE] Finance Minister Enoch Godongwana to table the Medium-Term Budget Speech tomorrow.
The South African Communist Party (SACP) has called for an urgent consultative alliance meeting to discuss sustainable alternatives for the 2025 budget.
This comes as Parliament prepares for Finance Minister Enoch Godongwana’s budget policy statement, scheduled for March 12, 2025.
Following a Politburo meeting over the weekend, the SACP urged the government to allocate more resources to the South African Revenue Service (SARS) and opposed the African National Congress-proposed two percentage point VAT increase.
SACP spokesperson Dr. Alex Mshilo says, “The alternatives we are calling for must also include strengthened regulation of the capital account, a decisive clampdown on illicit financial flows, and aggressive confrontation of base erosion and profit shifting. We are calling it a wealth tax because South Africa is one of the most unequal countries in the world.”
He added: “We cannot pursue taxes that punish the poor while we leave the rich smiling all the way to the banks. The Politburo calls for an urgent consultative alliance process and tasks the Secretariat to take a lead in implementing this call.”
VIDEO | Finance Minister Enoch Godongwana comments on postponed budget:
