In this episode of The Weekly, I break down the key highlights from the 2025 South African Budget Speech, delivered by the Finance Minister. I dive into the proposed VAT increase, adjustments to personal income tax, social grant increases, and the country’s growing public debt. I also explore the impact of tax revenue shortfalls, the funding for National Health Insurance, and the rise in sin taxes. Finally, I take a look at what happens next in the approval process as the budget moves through Parliament, from debates in the National Assembly to final approval by the President. Tune in for a comprehensive look at the fiscal roadmap ahead for South Africa.