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IFP Supports Budget with Conditions, Calls for VAT Increase Reversal

  • The Inkatha Freedom Party supports the country’s budget.
  • The party supports the budget with the condition that the VAT increase is temporary.
  • The IFP wants the VAT increase to be removed when more viable economic income streams are secured.
  • The IFP wants President Cyril Ramaphosa to call an urgent Cabinet meeting to discuss measures for economic growth and review spending patterns.
  • The IFP supports the budget but remains committed to accountability for effective and transparent fiscal management.
  • The IFP wants to tighten loopholes, including the R800 billion that is currently not collected by the South African Revenue Service.
  • The IFP remains opposed to further borrowing.

Source: iol.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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