CATCH UP — Budget speech: VAT stays at 15%, expansion of zero-rated basket scratched

After two failed attempts — one blocked by legal action, and another torpedoed by coalition deadlock over the now-withdrawn VAT increase — Finance Minister Enoch Godongwana has finally delivered the 2025 Budget Speech today at 14:00. This marks the third scheduled tabling of the budget, following weeks of political and fiscal turbulence.