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A calculator and pen depicted in the picture.
The Parliamentary Budget Office says the government must reveal its alternative sources of revenue should the ANC-proposed two percentage points in value-added tax not be approved.
Last month, Finance Minister Enoch Godongwana’s budget policy statement was postponed to the 12th of this month.
This after partners in the government of national unity disagreed on the proposed VAT increase.
The Office’s Executive Director Dumisani Djantjies says, “What is important in our view and analysis is to say maybe then parliament should coerce government to provide those options that were looked into, and in that way, they will be able to see what has been considered in our view and analysis that we are currently busy with, which I am not going to share a lot of until we publish next week. We do feel there is a lot of evidence of sources of revenue that we can still tap, and also breaking down to immediate need and medium- to long-term sources of revenue could be considered in that regard.”
VIDEO | Parliamentary Budget Office to finalise advisory paper on the budget:
Cabinet and Treasury will have a special meeting on Monday to finalize the country’s budget.
Minister in the Presidency Khumbudzo Ntshavheni said the Cabinet wanted to collectively address the country’s fiscal environment.
Ntshavheni wants to allay fears about further tension in the Cabinet over the new budget speech.
“In Cabinet, we don’t have political parties, and we don’t have people representing political parties. We have members of Cabinet appointed by the President of the Republic, who serve at the pleasure of the Republic, as prescribed by the President’s Act. That allows him to appoint members of the Cabinet to act collectively within in Cabinet. And that has been made clear. Nobody is bringing a party jacket. We want to represent the interests of all South Africans,” says Ntshavheni.
Video | Budget on track ahead of 12 March: Ntshavheni
