Key topics:Fuel levy, carbon tax raised; petrol up 19c/l, diesel up 18c/lAlcohol, tobacco excise duties increased by up to 6.75%SA debt-to-GDP to hit 77.4% — highest since 1994.Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.Support South Africa’s bastion of independent journalism, offering balanced insights on investments, business, and the political economy, by joining BizNews Premium. Register here.If you prefer WhatsApp for updates, sign up to the BizNews channel here..By BizNews Reporter. Instead of increasing VAT, the Treasury is increasing the Fuel Levy and Carbon Tax to increase revenue. Effective 4 June, the Petrol price is set to increase by 19c/l and the diesel price by 18c/l.Excise duties have increased by 6.75% for alcohol products and 4.75-6.75% for tobacco products.Personal income tax rebates and tax brackets remain unchanged.2025/26 consolidated revenue is up R160.67bn from 2024 for an estimated R2.2trn.Total consolidated expenditure is down R22bn from the previously proposed Budgets in February and March, but is still up R180.9bn from 2024. Total consolidated expenditure is an estimated R2.58trn for the year 2025/26. Debt servicing is the highest expense, making up 16.5% of total expenditure.Permanent grant expenses are set to increase above inflation, and 19.3 million South Africans are anticipated to receive social grants by 2028.The Budget deficit remains unchanged from 2024, sitting at 4.8%.South Africa's debt-to-GDP ratio is forecast to increase from 76.9% in 2024 to 77.4% in 2025/26. Director-General Dr Duncan Pieterse noted that this is the highest it has been since 1994, though he acknowledged that Treasury had been planning for the number to peak in the 2025/26 Budget.GDP growth is forecast to increase from 0.6% in 2024/25 to 1.4% in 2025/26.
