In response to Finance Minister Enoch Godongwana’s 2026 National Budget Speech delivered on February 25, 2026, African Christian Democratic Party (ACDP) chief whip Steve Swart expressed a measured sense of hope for the country’s economic trajectory.
Swart described the budget as signaling that “the ship is starting to turn in the right direction although it is still very slow.” He highlighted several positive elements, including the absence of increases in personal income taxes and corporate taxes, as well as the provision of bracket relief for salary earners to help offset the effects of inflation.
However, Swart voiced ongoing concerns about the country’s fiscal position. He noted that while progress is evident, there remains no firm fiscal anchor to secure long-term stability. Gross debt is projected to stabilize at 78.9% of GDP in the 2025/26 fiscal year before beginning to decline, but Swart emphasized that debt levels are still too high. He pointed out that elevated debt-service costs continue to crowd out essential spending on critical areas such as education, health, and public safety.
“Taxpayers are demanding every value for every rand that they pay in tax,” Swart said. “Better services, better education, better health, and they want to be safe in their homes.” He acknowledged that the budget is moving toward these goals but stressed that “there’s still a lot to be done.”
On the economic growth outlook presented in the budget, Swart described it as positive yet insufficient. Projections indicate growth of 1.6% in 2026, rising gradually in subsequent years, but he argued that this rate is far too low to meaningfully address South Africa’s high unemployment levels.
To achieve faster and more substantial growth, Swart called for greater capital investment, particularly from the private sector. While the minister announced plans for increased public sector capital investment, Swart noted a lack of sufficient private sector involvement. He expressed hope for significantly higher private sector investment to stimulate quicker economic expansion, balance the national books, create jobs, and restore broader hope to the nation.
The 2026 Budget, presented amid signs of fiscal improvement after years of challenges, includes a narrowing consolidated budget deficit and efforts to stabilize debt after 17 years of increases. Swart’s reaction reflects a common theme among political responses: recognition of incremental progress combined with calls for bolder reforms to accelerate recovery and deliver tangible benefits to citizens.