RC 261021702Stephen Grootes
Wednesday, 21 October 2026
Medium-term budget day dominated the Money Show, with a new fiscal anchor, municipal budget reforms, temporary fuel levy relief and a Treasury U-turn on crypto dominating the discussion.
- 18:03
Treasury will write fiscal sustainability into the Public Finance Management Act next year, without a numerical debt ceiling. Each incoming administration must table its own fiscal plan after elections, and deviations must be explained to Parliament.
- 18:17
Councils will need funded budgets under amended Municipal Finance Management Act rules. National Treasury would sign off metro CFO appointments, and officials and political office bearers could be held personally liable for irregular and wasteful spending.
- 18:18
Fuel levy relief starts in November and is cut back in December. Treasury's director-general said further intervention depends on whether oil prices fall and whether it can be done in a fiscally neutral way.
- 18:51
Finance Minister Enoch Godongwana conceded that the proposed crypto cross-border rules would not work, so Treasury and the Reserve Bank must redraft them. Luno said the original approach would have made South Africa an outlier.
- 18:28
Famous Brands reported operating profit down 4.7% and revenue up only 2.3% for the six months to August. Botswana restaurant sales fell nearly 15% as consumers cut back on eating out.