News 07:00

BULLETIN 13 March 7 am

Good morning. I am……..

In this bulletin:

# The MK Party and EFF reject the budget
# Minister Hlabisa says there is an opportunity for change in local government
# And the British prime minister is disappointed in Trump’s global tariffs

# The MK Party has strongly rejected the budget, especially the hike of the value-added tax by one-percent over the next two years. Finance minister Enoch Godongwana tabled the national budget in the National Assembly on Wednesday. MK Party deputy president, John Hlophe, says what is needed is an immediate shift to a bold budget that prioritises people over profits and development over debt:

Meanwhile, the EFF says the government of national unity has run out of ideas to generate state funding. Party leader Julius Malema vowed to oppose any VAT increase after Godongwana announced the hike. Malema also criticised the decision not to adjust personal income tax brackets. He pledged that the EFF would push for budget amendments:

# Cooperative Governance and Traditional Affairs minister, Velenkosini Hlabisa, says reviewing the founding White Paper on Local Government of 1998 is an opportune chance to reimagine local government. Numerous municipalities face challenges, including financial mismanagement, inadequate governance, political interference, and capacity and skills shortages. Hlabisa says extensive consultations on the white paper will address identified deficiencies in local government policy and implementation while proposing suitable recommendations to address obstacles. He adds that the review will also focus on assessing the funding model for municipalities. 

# Science, Technology, and Innovation minister Blade Nzimande will host the inaugural National System of Innovation Transformation Summit in Boksburg today. The two-day summit will assess South Africa’s progress in transforming its innovation landscape post-apartheid. Key discussions will explore why transformation efforts have fallen short and how to accelerate inclusive scientific development. The summit will also address equity, industrialisation, green development, and entrepreneurship in shaping South Africa’s future innovation system.

# British prime minister Keir Starmer says he is disappointed that steel and aluminium exports to the US are now subject to tariffs. The global tariffs took effect on Wednesday, imposing a flat duty on steel and aluminium entering America of 25-percent. The move by president Donald Trump is designed to protect US manufacturing and bolster jobs by making foreign-made products less attractive. Starmer says the UK is not planning to retaliate against America:

# Rugby: Marcus Smith has been included at full-back for England’s Six Nations finale against Wales in Cardiff on Saturday. The Harlequins playmaker started the championship at fly-half but was on the bench for last weekend’s 47-24 win over Italy at Twickenham. Smith came on to score a try from full-back, where he started in one-point wins over both France and Scotland. Elliot Daly moves to left wing and Tom Roebuck gets his first Test start as right winger. Tommy Freeman, on the wing against Italy, moves to outside centre.

# And the financial indicators: The dollar trades at 18-rand-33-cents and the euro at 19-rand-95-cents. One British pound costs 23-rand-75-cents and Bitcoin trades at 83-thousand-694-dollar-10-cents. Gold sells at two-thousand-938-dollars-58-cents a fine ounce and Brent crude oil is quoted at 70-dollars-84-cents a barrel.

Stay tuned for more news………….