Latest news with #GCRA
TimesLIVE
6 days ago
- Business
- TimesLIVE
Lesufi's office receives further R50m to raise its allocation to R1.72bn
A notable addition includes R50m to the office of the premier for Nas'iSpani, the flagship youth skills and employment initiative led by the Gauteng City Region Academy (GCRA). To stimulate the township economy and support entrepreneurs, the department of economic development will get an additional R100m. 'Sixty million rand will augment the R40m allocated at the start of the financial year for loan funding support to SMMEs, while R40m will help the department meet its strategic targets,' Maile explained. He said this funding will also 'lay the groundwork for unlocking the investment pledges made at the Gauteng investment conference.' The department of human settlements receives the largest share of the budget adjustment, R332m. 'This allocation is to assist in servicing informal settlements with sanitation and R100m is for securing land and finished structures to mitigate against land invasion and illegal occupation. 'Roads and transport will benefit from an additional R314.9m, with R150m earmarked for the repair and completion of 54 priority roads across the province. 'Another R115m will be channelled towards fixing broken traffic lights and street lights,' Maile noted, adding that improved road infrastructure is vital for mobility and economic growth. The newly established department of environment will receive R68m — R18m will be for governance capacity and R50m for the 'clean and green' programme in collaboration with municipalities. 'This is aimed at improving the lived experience of the Gauteng citizenry and responding to the challenge of unclean public spaces,' Maile said. Budgets for health (R67.1bn), education (R68bn), and social development (R5.4bn) remain unchanged. Maile said the budget demonstrates the overall 'thrust of our budget approach remains the resourcing of critical social and economic programmes that form the basis of the social wage with our people.'
BBC News
07-05-2025
- Business
- BBC News
'Twice as high' cost of island concrete questioned
'Twice as high' cost of island concrete questioned 9 minutes ago Share Save Jake Wallace BBC News, Guernsey Share Save Getty Images The Committee for Economic Development has asked the Guernsey Competition and Regulatory Authority (GCRA) to conduct a market study on the costs Guernsey's government has requested a review into the cost of island concrete products after initial investigations found some were "twice as high" as in the UK. The Committee for Economic Development has asked the Guernsey Competition and Regulatory Authority (GCRA) to conduct a market study on the costs. The committee said concerns had been raised about prices "materially higher than in the UK or France", which "directly impacts" the cost and feasibility of building. It said the study would show if prices were too high, given the "higher costs in Guernsey such as labour" and how it could be addressed. 'Consistently more expensive' The committee said the construction sector played a "critical role" in Guernsey's economy. "It is a key financial contributor, generating approximately 4.5% of the island's Gross Value Added, while also contributing materially to quality of life by building public amenities such as schools, hospitals, and importantly housing," it said. The committee added the GCRA had already undertaken some pre-investigation work. It said: "The GCRA found that Guernsey manufactured concrete is consistently more expensive than the equivalent products manufactured in the UK, with local prices being twice as high in all but one case. "It is therefore deemed appropriate that more detailed analysis work is undertaken by the GCRA via the market study." Sector raised 'concerns' Deputy Neil Inder, committee president, said the study would allow GCRA to use its "statutory powers" to request detailed cost and price information from concrete and aggregate suppliers. "With the development of housing being a key priority of the States, the prices of input products such as concrete and aggregates directly impact the cost of house building," he said. "Following concerns over the prices of these products raised by the sector, the committee has asked the GCRA to undertake this study."
