Latest news with #R172bn
Eyewitness News
6 days ago
- Business
- Eyewitness News
Some opposition parties in Gauteng Legislature remain critical of Maile's revised budget
JOHANNESBURG - Some opposition parties in the Gauteng Legislature remain critical of Finance MEC Lebogang Maile's revised provincial budget, even after adjustments were made. Maile retabled the budget on Wednesday to accommodate key changes in the province's projected revenue. An additional R886 million has been added, bringing the total projected revenue to R172 billion for the current financial year. ALSO READ: • Gauteng govt discloses that only 4 of 11 municipalities tabled funded budgets • Gauteng govt increases total projected revenue to R172bn in revised budget Economic Freedom Fighters (EFF) provincial chairperson Nkululeko Dunga said Maile's budget doesn't reflect the true state of the province. "I think the priorities on the budget are skewed on the basis that you have R1.2 billion that is allocated for the provincial legislature and political parties while you still have about R240 million allocated towards housing. A sound decision would have been to allocate R1.2 billion to the housing and the R200 million to the political parties." The Democratic Alliance (DA)'s Ruhan Robinson said that budget allocation could have been better. "All in all, many of our concerns stay exactly the same as with the previous budget. It's the enormous allocation of almost R5 billion to pay for the e-toll debt, which we still believe is not for the province to pay. We shouldn't be paying that money."
Eyewitness News
7 days ago
- Business
- Eyewitness News
Gauteng govt discloses that only 4 of 11 municipalities tabled funded budgets
JOHANNESBURG - The Gauteng government has disclosed that only four of its eleven municipalities tabled funded budgets for the upcoming financial year. A funded budget refers to one where projected revenue is sufficient to cover all planned expenditures. ALSO READ: Gauteng govt increases total projected revenue to R172bn in revised budget Only the municipalities of Tshwane, Johannesburg, Midvaal, and Mogale City are expected to generate enough revenue to meet their expenses. Delivering his budget speech on Tuesday, Finance MEC Lebogang Maile said this was a cause for concern. "We have stated repeatedly that fiscal discipline requires that municipalities maintain fiscal positions that are consistent with macroeconomic stability and sustained economic growth. To reinforce fiscal discipline, the Gauteng provincial government and Gauteng municipalities must fund their requirements within the set budget ceilings. This necessitates large-scale budget reprioritisation, making trade-offs, and a drive to identify efficiency gains - all with the aim of enhancing the credibility of the provincial and municipal budgets."
