Tax & Spend
South Africa’s DA Says It Will Only Back a Pro-Growth Budget
- Party wants meeting convened before budget speech on Wednesday
- If demands are not met, it won’t vote for the budget to pass
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The Democratic Alliance, the second-biggest party in South Africa’s ruling coalition, said it would only support the national budget if it met certain criteria including placing more emphasis on economic growth.
A previous iteration that was due to be tabled by Finance Minister Enoch Godongwana on Feb. 19 was unprecedentedly delayed after the DA and other members of the 10-party coalition opposed a two-percentage-point increase in the value added-tax rate to 17% that would have raised 191 billion rand ($10.5 billion) over the next three fiscal years.