21 May new date to table budget - Treasury
A revised budget will be tabled on 21 May.
"We are here to take any further questions you may have on this particular matter. The Director-General has instructed me to tell you that between now and the 21st, I will not talk to you. It’s a closed period,” said Finance Minister Enoch Godongwana.
He briefed the media on Wednesday afternoon, following last week’s reversal of the proposed 0.5% VAT increase.
READ: Charged 15.5% VAT? Tax expert has advice for consumers
https://www.ecr.co.za/news/news/charged-155-vat-tax-expert-has-advice-consumers/
The Minister says Treasury's revised focus includes three key priorities, which are boosting revenue collection, driving economic growth, and government spending.
"We must balance the budget by managing our costs better. Other taxes besides VAT further were not an option. It would harm growth, savings, and jobs. Borrowing more would worsen our debt crisis.
"We already spend more than a billion rand a day servicing debt. We must do more with less, review government spending critically and root out waste. Every cent of public money must be spent wisely."
Until a new budget is passed, Departments can spend up to 45% of last year’s budget in the first four months, and 10% each month after that.
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