Thousands of Economic Freedom Fighters (EFF) supporters filled the streets of Pretoria on Thursday as they marched from the Union Buildings to the National Treasury office, voicing their triumph over a recent legal victory that halted a proposed VAT increase. At the forefront of the march, EFF leader Julius Malema did not hold back in expressing his doubts about Finance Minister Enoch Godongwana’s forthcoming budget speech, claiming it is likely to be “another lie” that fails to address the pressing economic needs of South Africa.
Malema, addressing a passionate crowd, raised concerns that the budget speech would lack concrete plans for job creation and economic growth, a sentiment echoed among many who feel the government has taken inadequate measures to support state-owned enterprises, including Transnet. “This Treasury is the one running South Africa,” he stated emphatically, condemning the National Treasury for its lack of investment in significant infrastructure projects, which he believes are essential for job creation and fostering economic stability.
His remarks were further inflamed by a recent ruling from the Western Cape High Court that suspended the intended VAT increase and invalidated the 2025 Fiscal Framework due to what he termed unlawful adoption by the National Assembly. The EFF, alongside the Democratic Alliance (DA), played a pivotal role in this legal challenge, underscoring their commitment to what they perceive as fair economic practices.
“They have not been putting money in projects that are going to create jobs and grow the economy. Our economy has been growing at 1% because of the Treasury saying we must put in place measures that are going to cut money, and that money they cut from essential services, from the things that serve black people,” Malema asserted, highlighting the disproportionate impact of financial cuts on education, health and policing.
In a bold call for reform, Malema advocated for a transfer of planning powers from the National Treasury to elected politicians, suggesting that decision-making on significant economic initiatives should rest within the realm of political leadership rather than bureaucratic finance officials. “It must be a decision of politicians as to what we are going to do this year and the Treasury must just take the money and finance what the politicians have said they are going to do this year,” he declared, urging that the Reserve Bank should be entirely owned by South Africans to safeguard national sovereignty.
The march also addressed the pressing issue of data expiration for consumers, with Malema stressing the importance of accessible data for students and job seekers in a digitally reliant society. “We are not asking for luxury,” he said, explaining that discussions with telecommunications giant MTN have centred around eliminating data expiry and reducing the cost of data, which he argued is excessively high in comparison to other countries.