JOHANNESBURG - The JSE has reacted positively to Finance Minister Enoch Godongwana's third budget.
His first two attempts did not get enough support to be passed. The second resulted in court action, with the VAT hike halted.
READ: Budget 3.0 brings VAT relief, sin tax burns, and an unexpected fuel levy hike
Godongwana has told Parliament VAT would remain the same. With Godongwana forced to back-track on the VAT hike, he had to find another way to make up for the shortfall.
He’s answer is the fuel levy. Petrol goes up by 16 cents a litre in June, and diesel by 15 cents.
Digging into all of this was distinguished Professor of Sociology, political economist at the University of Johannesburg, Patrick Bond.