2024 budgetlatest news & developments
ANC parliamentary chief whip Pemmy Majodina. (David Harrison/M&G)

Majodina: Don’t panic, NHI bill can be amended after Ramaphosa signs it into law

The ANC chief whip denies the health law is an election ploy as court challenges loom and the DA dismisses it as a ‘populist lever’ This content is restricted to registered users and subscribers. Get Your Free Account The Mail & Guardian is committed to providing all our readers with the best possible experience. Please register your free account now. Your registration is your first step to becoming an M&G community member. Register Registration enables: – M&G newsletters access – notifications – the best possible experience Already registered? Login here Want to subscribe and get even more benefits? Explore our subscription offers

Finance Minister Enoch Godongwana delivers the 2025 Budget. Photo: Jeffrey Abrahams/Gallo Images

The Fiscal Cliff | Political chaos as fiscal policy

Taxpayers’ pain has its roots set in a history that the finance minister could not overcome

On the money: Treasury director general Duncan Pieterse says its focus is on Transnet’s turnaround plan. Photo: Jaco Marais/Gallo Images via Getty

Treasury’s Pieterse: Transnet bailout ‘not inevitable’

The 2024 budget is Duncan Pieterse’s first as director general. And he says the fiscal framework does not constitute a negotiating position

Finance Minister Enoch Godongwana. Photographer: Dwayne Senior/Bloomberg via Getty Images

Social wage bill consumes R1.2 trillion of government revenue

Additional funds have been allocated to pay teachers, doctors, nurses and police officers but productivity is not always commensurate with salaries

In his 2025 State of the Nation address the president promised improved healthcare access and infrastructure. (Photo by Guillem Sartorio/Getty Images)

NHI plans to revitalise hospitals

A proposed R6.9 billion is to be allocated over the next three years to prepare for the rollout of the system across the country

To encourage local electric vehicle production, the government has proposed a tax incentive that will allow manufacturers to claim 150% of qualifying investment spending.
 Photographer: Waldo Swiegers/Bloomberg via Getty Images

Budget 2024: Government proposes electric vehicle tax incentive

The incentive is aimed at encouraging investments in local production

Eskom chief executive Dan Marokane says coal is important for the country to drive industrialisation. (Getty Images)

Budget 2024: Tough line on bailouts could see Eskom debt relief cut by R4 billion

The budget points to state-owned entity bailouts as a key driver of South Africa’s increasingly constrained fiscal position

President Cyril Ramaphosa signed the climate change bill into law last month.

Budget 2024: Treasury responds to Ramaphosa’s promise to ‘extend and improve’ SRD grant

The term’s of its extension beyond 2025 have yet to be agreed on, but the treasury has made provisional allocations for the grant

Finance Minister Enoch Godongwana. Photo: Dwayne Senior/Bloomberg via Getty Images

Budget 2024: Godongwana inflicts pain on individual taxpayers

The South African Revenue Service has turned to salaried workers and professionals to buoy revenue collection but is also targeting multinationals posting profits abroad

Finance Minister Enoch Gododngwana. (Dwayne Senior/Bloomberg via Getty Images)

Budget 2024: State to tap into R500 billion forex reserve

The decision follows pressure from civil society and labour — as well as warnings that the treasury risks leaving the Reserve Bank in a precarious position

Finance Minister Enoch Godongwana. (Photo: David Harrison)
Video

WATCH LIVE: Godongwana delivers the 2024 Budget speech

Minister of Finance, Enoch Godongwana, will present the 2024 Budget Speech at the Cape Town City Hall

Youth unemployment rose to 43.8% among 15-to-34-year-olds in Q4 2025, even as the headline rate fell. (Delwyn Verasamy/M&G)

SA’s unemployment rate rises to 32.1%

The country’s jobs data comes the day before the tabling of what looks to be another tightly managed budget

Finance Minister Enoch Godongwana. (Photo: Mlungisi Louw/Gallo Images)

Budget 2024: Jury’s still out on tax hikes

The budget is expected to lay out plans to raise R15bn in revenue, amid a commodity-induced slump This content is restricted to registered users and subscribers. Get Your Free Account The Mail & Guardian is committed to providing all our readers with the best possible experience. Please register your free account now. Your registration is your first step to becoming an M&G community member. Register Registration enables: – M&G newsletters access – notifications – the best possible experience Already registered? Login here Want to subscribe and get even more benefits? Explore our subscription offers

Unemployed men inJohannesburg wait on a street corner for work for part-time work. Photo: Naashon Zalk/Bloomberg/Getty Images

The Fiscal Cliff | Shallow state purse deepens jobs crisis

In this instalment of The Fiscal Cliff – a Mail & Guardian series on how South Africa’s budget has been shaped – Sarah Smit considers the intimate link between the country’s ultra-high unemployment rate and austerity