- Cosatu urges Parliament to amend the 2025/26 Budget to remove the proposed VAT hike.
- Finance Minister proposed a 0.5% VAT increase for 2025/26 and 2026/27 to address a R58 billion Budget deficit.
- VAT zero-rated food items will expand to include canned vegetables, dairy liquid blends, and organ meats.
- Cosatu argues the VAT hike will negatively impact indebted working-class families and the economy.
- Cosatu criticizes the lack of income tax bracket adjustments and support for SMMEs and industrial sectors.
- Cosatu calls for more progressive revenue options and opposes tax hikes on the working class and poor.
- Cosatu highlights the need for a bold plan to stimulate growth and reduce unemployment.
Source: thestar.co.za
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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