Vat Hike Not Final, Alternatives Being Explored: Ramaphosa

African National Congress ANC President Cyril Ramaphosa says the Value-Added Tax VAT increase decision is not final, as the National Treasury has about 30 days to find possible alternative options to raise the money it needs.

The partys president was speaking during a media briefing at Chiawelo in Soweto, Gauteng.

Ramaphosa says the partys National Working Committee NWC has been tasked with discussing the next way forward for parties in the Government of National Unity GNU who voted against the budget on Wednesday.

Ramaphosa has added that although its unlikely that Treasury will be scrapping the VAT increase, the proposals from various parties are being taken very seriously.

The resolution that was taken by the finance committee is that there will be a 30-day period during which Treasury will examine whether there are other options other than through a VAT increase where we can fill the gap of about R13.5 billion. So that has been left for discussion and examination, and in the end, we will look at all ways and means of seeing whether that is possible or not. But from the current position, Treasury has looked and said at various areas where it can look, it doesnt seem to be so.