Budget 3.0: Treasury swaps VAT hike for fuel levy and carbon tax to fund R2.58trn budget, targets robust tax collection

Key topics:

• VAT hike withdrawn; fuel levy raised to compensate

• Petrol, diesel taxes increase by 2.3% and 3%

• Treasury trims spending, forecasts 1.4% GDP growth

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By Kerry Lanaghan and Patrick Kidd