The government is now reluctant to embark on new spending priorities, which will have dire consequences for crucial service delivery across the country. It is heading for a much bigger financial crisis, with the revenue it generates from corporate and personal income tax not being enough to cover growing societal demands.
To prevent a total collapse in the country’s finances, National Treasury has told all government departments in provinces that no new spending will be allocated to them. The Treasury is even prepared to implement budget cuts in 2024, which will be a blow to departments that are already reeling from previous cuts that threaten the delivery of services to the vulnerable and poor.
Read the full article on the Daily Maverick
Daily Maverick is a unique blend of news, information, analysis and opinion delivered from our newsrooms in Cape Town and Johannesburg, South Africa. There are many ways to describe exactly what we do (and for the price of a cup of coffee we’re capable of talking your ears off about it), but the best way to understand the end result is to experience it. Every part of Daily Maverick is free-to-air and no payment is required, although free registration is required for a small subset of functions and pages.
Daily Maverick is run by an independently owned, private company with no affiliation to any other media group (or political party or religious organisation.) Follow Daily Maverick on Twitter at @dailymaverick.
Go to: https://www.dailymaverick.co.za/
