2025 Budget Speech Postponed Amid Government Disagreements
The highly anticipated 2025 Budget Speech, originally set for February 19, has been postponed due to internal disagreements within the Government of National Unity over budget allocations.
National Assembly Speaker Thoko Didiza announced the delay, citing the executive’s failure to reach a consensus on key budget proposals.
"As a result, the Cabinet has decided to take additional time to reassess the budget before presenting it to Parliament in March," Didiza stated.
The postponement has sparked concerns about the government’s ability to align on fiscal priorities, leaving economic stakeholders awaiting further clarity on South Africa’s financial trajectory.
Opposition Voices Concern
United Democratic Movement (UDM) deputy president Nqabayomzi Kwankwa expressed dissatisfaction with the process, claiming his party was excluded from discussions leading to the delay.
"We cannot support a decision that we know nothing about," Kwankwa said.
He further emphasized that Parliament should not be sidelined in budgetary decisions, stating, "A proposal from the executive in the nature of a budget is not a fait accompli. It is only final once Parliament has approved it."
Kwankwa argued that if the budget proposal was set to be tabled, it should have first been presented to Parliament for consideration. "If Parliament does not agree with that process, we can arrive at a different outcome together," he added.
Calls for Clarity on Budget Timeline
Several parliamentarians called for a specific date for the budget’s tabling, urging adherence to legislative procedures.
Build One South Africa (BOSA) leader Mmusi Maimane underscored the importance of following the Money Bills Amendment Procedure and Related Matters Act, which mandates a strict timeline for budget presentations.
Finance Minister Enoch Godongwana later confirmed at a press briefing that the budget speech will now take place on March 12, 2025.
"Although the 2025 budget was originally scheduled for release at 2 PM on February 19, a postponement was necessary to allow for further deliberations on the budget," Godongwana stated.
He reassured the public that the Cabinet remains committed to ensuring a balanced budget that accounts for public interests, economic growth, and fiscal sustainability.
"Furthermore, the budget is produced and presented before the National Assembly in accordance with the Public Finance Management Act (PFMA)," he added.
Citing Section 27 of the PFMA, Godongwana explained that the Act requires the annual budget to be tabled before the start of the financial year, or in exceptional circumstances, as soon as possible thereafter.
"Further discussions within Cabinet will take place in preparation for a new or amended budget to be tabled on March 12, 2025," he concluded.
The postponement has heightened anticipation for the revised budget, with stakeholders closely watching how the government will navigate economic and fiscal challenges in the coming weeks.