×

We've got news for you.

Register on SowetanLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

What you need to know about the budget

Koena Mashale Journalist
Finance minister Enoch Godongwana delivers the budget speech on Wednesday afternoon.
Finance minister Enoch Godongwana delivers the budget speech on Wednesday afternoon.
Image: GCIS

To keep pace with inflation and increase access, permanent social grants are increased, finance minister Enoch Godongwana said on Wednesday.

An increase of R100 to the old age, war veterans, disability and care dependency grants. This amount will be divided into R90 effective from April, and R10 effective October; a R50 increase to the foster care grant and a R20 increase to the child support grant.

For alcohol products excise duties, above-inflation increases of between 6.7 and 7.2 per cent for 2024/25 are proposed.

This means:

A can of beer increases by 14 cents;

A can of a cider and alcoholic fruit beverage goes up by 14 cents;

A bottle of wine will cost an extra 28 cents;

A bottle of fortified wine will cost an extra 47 cents;

A bottle of sparkling wine will cost an extra 89 cents;

A bottle of spirits, including whisky, gin or vodka, increases by R5.53.

An increase tobacco excise duties by 4.7 per cent for cigarettes and cigarette tobacco, and by 8.2 per cent for pipe tobacco and cigars.

A R9.51 cents increase for cigars;

A 97 cents increase to a pack of cigarettes; and

An extra 57 cents for a pipe of tobacco.

  • Work is currently underway to improve the Covid-19 Social Relief of Distress Grant by April. National Treasury will work with the department of social development in ensuring that improvements in this grant are captured in the final regulations. These improvements will be within the current fiscal framework. For the extension of the grant beyond March 2025, the social security policy reforms, together with the funding source, will be finalised.
  • Government is introducing a new R2bn conditional grant over the medium-term to fund the rollout of smart prepaid meters. We will release the report on the independent review of Eskom’s coal-fired power stations in the coming week. The review was done to inform part of the conditions attached to the debt relief plan.

mashalek@sowetan.co.za

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.