South African budget delay over VAT hike shows cracks in coalition
Mtambo CAPE TOWN (Reuters) - South Africa's national budget was postponed on Wednesday because the two biggest parties in the ruling coalition disagreed over raising value-added tax, an unprecedented delay that caused the rand and government bonds to fall.
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The postponement of South Africa’s national budget vote was as much about keeping the national coalition together as it was about the unity of the African National Congress, with the finance minister now going back to the drawing board.
South Africa's finance minister fails to unveil budget after tax row
South Africa's Finance Minister Enoch Godongwana has been forced to postpone the unveiling of the national budget following sharp disagreements within the coalition government. Coalition partners derailed his budget after opposing his plan to raise value-added-tax (VAT),
South African rand slides after national budget postponed
South Africa's rand weakened on Wednesday, after the national budget was postponed until further notice due to disagreements within the coalition government. At 1402 GMT, the rand traded at 18.57 against the dollar,
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Officials say pro-business Democratic Alliance and senior figures in African National Congress objected to VAT rise
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