Latest news with #R65
Eyewitness News
3 days ago
- Business
- Eyewitness News
Ekurhuleni residents to pay more after tariff hikes
JOHANNESBURG - Ekurhuleni residents may have to pay more for municipal services following the city's decision to raise tariffs. Finance MMC Jongizizwe Dlabathi announced increases in service charges during his budget speech on Thursday to come into effect in the 2025/2026 year. ALSO READ: - Ekurhuleni budget: Residents to pay more for water, electricity, sanitation & refuse removal - City of Ekurhuleni decides to insource essential services to strengthen internal capacity - Ekurhuleni sets aside R250m to rehabilitate road infrastructure, particularly potholes However, unlike in Johannesburg, property rates and municipal bus services will not increase. If the Ekurhuleni City Council approves the proposed budget, residents will see a 15% increase in their monthly water bills. Electricity prices are also set to rise, but only in accordance with the guidelines set by the National Energy Regulator of South Africa (NERSA). Additionally, refuse removal fees will go up by 6%, while sanitation services will cost 10% more. Dlabathi said when compared to other metros, these increases are relatively reasonable. "Our 2025/26 tariffs are lesser on sanitation and refuse removal compared to the City of Joburg, Cape Town and eThekwini, except for the City of Tshwane. Similarly, the average comparative analysis of 2024/25 tariffs shows that we came second with 10.43%, while the City of Cape Town approved the highest average tariff of 13.71%.' These tariffs will go towards funding the city's R65 billion budget.
IOL News
4 days ago
- Business
- IOL News
A step backwards for the country's poor
SOUTH Africa's third iteration of the 2025 National Budget, colloquially referred to as Budget 3.0, is the consequence of the Government of National Unity (GNU) partners not being in agreement on the contents of the previous two versions of the budget. Historically, a most embarrassing time for the finance ministry, as the budget was not able to pass the approval of the house. In the past 30 years, when the ANC was in the majority, it was a fait accompli that the budget would be paraded through parliament without comment or question. Our GNU is essentially a partnership between several parties, some historically in opposition to each other, that are now unlikely partners that have come together to collectively form the government. One would have assumed that these parties would air out their difference behind closed doors and show the world a unified face, but this was a naïve assumption. The DA appeared to have suffered from amnesia, as a member of the GNU, well represented in the form of the Deputy Minister of Finance, who collectively crafted the budget, then opposed a VAT increase to fund essential spending. One can only describe the DA's behaviour as grandstanding during the first iteration of the budget, where they opposed the VAT increase of 1%. Enjoying their moment of the limelight, they opposed the revised VAT increase of 0.5% immediately and 0.5% in a year's time in the 2nd Iteration of the budget. Remarkably, their voters, generally the wealthy and the white community, may not have felt the impact of a VAT increase, but the sales tax would have impacted the middle-income earners, leaving the poor unscathed. Some have explained the real motive of the DA was to force the reduction of social spending to avoid a widening budget deficit. Budget 3.0 is the result of incredibly difficult choices trying to fund a R65 billion shortfall, which a VAT increase would have yielded. Our official unemployment rate of almost 33% , forces many South Africans to rely on Social grants. The Covid-19 Social Relief of Distress (SRD) grant, introduced to provide financial assistance to the vulnerable during the pandemic, was meant to be a temporary measure consisting of R370. The SRD and its poverty relief is cancelled from March 2026. This saving will add approximately R35 billion to next year's budget. Old age and other grants, which the treasury planned to increase over a 2-year period, will now increase only this year, saving the government R6.6 billion over three years. Motorists and Commuters will pay an extra 16 cents per litre on petrol and 15 cents per litre on diesel to help offset lost revenue from the withdrawal of the VAT rate increase. Passenger Rail Agency of South Africa (PRASA) would originally have received R19.2 billion over three years to assist with a turnaround at the shattered commuter rail company; this allocation will be reduced to R12.3 billion. R2.3 billion is saved by scrapping plans to digitalise Home Affairs over a 3-year period, which is a setback to its efforts to make the process of getting identity documents, passports and other documentation more efficient. The education department had a three-year budget to expand access to early childhood development and compensate employees at the provincial level, which has now been drastically reduced by R9.5 billion. The already understaffed health department will suffer further as funds allocated for salaries to hire unemployed doctors and to buy medical supplies are slashed by R8.2 billion. We have a huge National debt to service of R426 billion, translating to 20% of the revenue collected from taxes, which is currently spent on servicing interest and debt repayments on loans built from past budget deficits. Currently, we are growing at a very slow pace of 0.6%, while many emerging economies and our BRICS partners like India and China grow at rates of over 5%. Slow growth makes job creation, increased standards of living, including education and healthcare, impossible to achieve. One of the obvious solutions is promoting Trade. Our president's recent visit to the White House was aimed at trading more trade and lowering tariffs with the USA, while time will tell the consequence of BEE rules for Elon Musk's Starlink will be a small price to pay if we can retain a favourable trading relationship with our biggest trading partner. Strong trade relations help retain a healthy demand for Rand. Currency stability makes for easier National debt redemption and helps stabilise the price of Oil imports, calming inflationary and interest rate swings. As we reflect on a busy economic week of Budget 3.0 and Ramaphosa's White House visit, we spare a thought for the poorest in our land, who are now ever poorer after this budget. Budget Revenue = R2.2 Trillion Budget Expenditure = R2.6 Trillion Budget Deficit = R377.9 Trillion
Eyewitness News
4 days ago
- Business
- Eyewitness News
Ekurhuleni budget: Residents to pay more for water, electricity, sanitation & refuse removal
JOHANNESBURG - Ekurhuleni's Finance MMC Jongizizwe Dlabathi has presented a R65 billion budget for the 2025/2026 financial year. This represents an 8.6% increase from 2024/2025's budget, which projected revenue at R60 billion. Dlabathi delivered his budget speech on Thursday morning at the Ekurhuleni city council in Germiston. Just like Johannesburg, Ekurhuleni has seen an increase in its annual budget, with the bulk of its revenue coming from services delivered to residential and commercial customers. Tariff increases have been implemented for the upcoming financial year, which are expected to generate additional income for the municipality. Ekurhuleni residents will now pay more for water, electricity, sanitation, and refuse removal. However, Dlabathi said in some areas, the municipality had chosen not to raise tariffs. "Zero percent [0%] on property rate, given the new valuation roll. Zero percent burial and cemetery tariff increase is proposed - 0% for CoE [City of Ekurhuleni] residents and 4.3% for non-CoE residents. We are also pleased to announce a 0% tariff increase for municipal bus services and hiring of facilities." He believes the metro was more lenient than other metros in raising service charges.
IOL News
23-05-2025
- Business
- IOL News
No chicken shortage on the horizon for SA despite global bird flu concerns
There will be no chicken shortage in South Africa, assures SAPA. Despite global disruptions in the poultry industry caused by outbreaks of avian influenza, a shortage of chicken in South Africa remains highly unlikely. This is according to the South African Poultry Association (SAPA), which has confirmed that local producers have sufficient capacity to handle any potential shortfall resulting from restrictions on chicken imports, particularly from Brazil. South Africa's domestic poultry sector – a R65 billion industry and the country's largest agricultural employer with nearly 58,000 jobs – currently slaughters around 21.5 million chickens per week. According to SAPA's Broiler Organisation CEO, Izaak Breitenbach, the industry has already increased its capacity to process up to 22.5 million birds weekly, leaving room to scale up in the event of rising demand or reduced imports. 'As the winter months are a period of lower demand for chicken, the additional supply should be sufficient to ensure there are no shortages of chicken meat, or price increases, because of shortages,' said Breitenbach.
The Citizen
16-05-2025
- Sport
- The Citizen
Pot of gold awaits Proteas if they win Test final: How much money is at stake
The final is to take place at Lord's next month between South Africa and Australia. The Proteas players are in line to bank a few million Rands, win or lose the Test Championship final. Picture: Richard Huggard/Gallo Images It might not be quite what some of the players earn individually in tournaments like the Indian Premier League, but the winners of the upcoming World Test Championship final, to be played at Lord's next month, are in for a big pay day. The final will be contested between South Africa and Australia, who finished in the top two positions following the latest ICC Test cycle, which ran from 2023 to this year. The teams that finished third to ninth will also pocket very decent prize money from the International Cricket Council. This year's final will be played at Lord's in London from June 11 to 15. 'Mega fixture' The winners of the match will take home a purse of $3.6 million. In rand terms that is R65 million. It is more than double ($1.6 million) what New Zealand (2021) and Australia (2023) earned after winning the previous two Test finals. The losing finalists will bank $2.1 million, which is R38 million. This is also significantly more than what the previous runners up took home, namely $800,000. Proteas Test captain Temba Bavuma said he and his team were pleased to have qualified for the final. 'Everyone understands the importance of Test cricket and the World Test Championship lends context to this vital format of the game. Lord's is a fitting venue for this mega fixture and all of us will be out there trying to give our best against Australia,' Bavuma said. 'The anticipation is increasing with less than one month to go, and I am sure fans around the world would be following the fortunes of both teams come 11 June.' The South African and Australian squads were recently announced for the final. Both teams will look to get some quality preparation in before the match at Lord's as both have played only white ball cricket this year. The Proteas are scheduled to face Zimbabwe in a four-day match in the coming weeks to prepare for the final. Prize money: First/winners: $3.6 million Second/runners up: $2.16 million Third: India $1.44 million Fourth: New Zealand $1.2 million Fifth: England $960,000 Sixth: Sri Lanka $840,000 Seventh: Bangladesh $720,000 Eighth: West Indies $600,000 Ninth: Pakistan 480,000
