City unhappy with budget allocation
By Mishkah Anthony
19 February 2009
.
The City of Cape Town is considering challenging Finance Minister Trevor Manuel’s lean budget allocation in the Constitutional Court.
That means that an expenditure cut as well as an increase in rates will be the city’s only way to make up a R100m shortfall.
Mayoral Committee Member for Finance Ian Nielson said Manuel’s proposed change would cripple the city’s funds.
“The national government has cut the City’s unconditional grant from the national fiscus, by an R100m a year, this means that we going to have to look very seriously at either increasing the rates or cutting the expenditure on important services delivery.”
19 February 2009
.
The City of Cape Town is considering challenging Finance Minister Trevor Manuel’s lean budget allocation in the Constitutional Court.
That means that an expenditure cut as well as an increase in rates will be the city’s only way to make up a R100m shortfall.
Mayoral Committee Member for Finance Ian Nielson said Manuel’s proposed change would cripple the city’s funds.
“The national government has cut the City’s unconditional grant from the national fiscus, by an R100m a year, this means that we going to have to look very seriously at either increasing the rates or cutting the expenditure on important services delivery.”
Comments
Ol' Trev just flannel-mouthed us with his pronouncements regarding
"differentials" in his 2009/10 budget speech intyerviews. Spouting a lot of hot air to hide his inability to communicate the intentions of the anc.
Yes Trev, we understand
"differentials"
in finance jargon and no, Trev,
we are aware that it is not automotive related.
Spare us the convoluted nonsense you use to obfusticate [look it up Trev, when you re-check your "differentials"] while preparing to avoid the blame as our country's value [moral as well as financial] moves even lower.
Remember, the main characteristic of a loser is ducking responsibility!
Cheers,
James Mashele