South Africa’s Godongwana Says He Won’t Resign Over VAT U-Turn

South African Finance Minister Enoch Godongwana said he sees no reason to resign following his U-turn on a proposed tax increase that threatened to rupture the nation’s coalition government.

Godongwana faced calls from some opposition parties to step down after he scrapped a proposed increase in the value-added tax. The reversal came days after he said he sees no alternative to the increase, which was set to raise the levy to 15.5% from 15% on May 1.

Enoch Godongwana

Photographer: Tierney L. Cross/Bloomberg

“It is my constitutional job to propose money bills in parliament,” Godongwana told Bloomberg TV in Washington, on the sidelines of the ...