National Treasury has confirmed that it is working on a new budget framework, which will be tabled on May 21 fter its recent decision to reserve the proposed Value-Added Tax (VAT) increase.

Addressing a media briefing in Pretoria, Gauteng province, Godongwana emphasised that government remains committed to growing the economy and creating jobs in all its efforts.

“Consultation. I said we’ve learned some lessons. I think all of us. Once the budget is passed by Parliament, finally, we intent developing a new process which takes the new environment into account. That consultation process has go to start in September before the MTBPS because the MTBPS is a key milestone that shapes the content of the February Budget,” says Godongwana.

--SABC--