UGondongwane Wethule Isabelo Mali Sika-2023

Written by on 22 February, 2023

By: Zilungile Mkhize & Pamella Majola

Finance Minister Enoch Godongwana has announced that government will take over R254 billion of Eskom’s debt. The minister delivered his budget speech before members of parliament this afternoon.

The government will provide Eskom with debt relief of R254bn over the next three years. It will also take over up to R70 billion of the utility’s debt portfolio in 2025/2026.

Godongwana’s budget speech has also touched on a number of topics that were highly anticipated by the public, including the country’s current economic standing, growth estimates, the energy sector, and the struggle of load-shedding by Eskom, as well as the social wage.

The minister announced that the old age and disability grant will increase in April by R90, then again at the beginning of October by R10.

The child support grant will now be R510, while the foster care grant will have reached R1 130 at the beginning of October.

Here is minister Godongwana on the amounts allocated for health, Local government, South Africa Police Service (SAPS), and the National Prosecuting Authority (NPA).

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Due to the difficult operating environment for the sugar industry from the impact of flooding and social unrest, the health promotion levy, or sugar tax, will remain unchanged for the following two fiscal years, to enable the industry to diversify or restructure.

Godongwana says government proposes an increase in excise duties on alcohol and tobacco of 4.9 percent, in line with expected inflation.

This means the duty on a 340-milliliter can of beer increases by 10 cents, a 750-milliliter bottle of wine goes up by 18 cents, a 750-milliliter bottle of spirits will increase by R3.90 cents, and on a pack of 20 cigarettes, the duty rises R0.98 cents.

 


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