Alan Winde penned an article on the implications of budget cuts to raise funds for the SAA bailout, particularly in the Western Cape province.
The Premier of the Western Cape, Alan Winde wrote an article on Friday, 30 October 2020, noting some of the implications of the suggested budget cuts. Earlier this week, against the opposition of many political and industry insiders, Minister of Finance, Tito Mboweni confirmed that the state will bail out troubled parastatal, South African Airways (SAA).
In order to raise the R10.5 billion to bail out SAA, Mboweni announced budget cuts across 41 state departments. This is inclusive of the Western Cape’s Title Deed Restoration Grant (TDRG) project, which will reportedly see a R23 million cut.
According to the article, “This reduction in the budget means that over 5 800 people would now not be assisted by the state and therefore, not receive this life-changing and empowering document. To exacerbate matters, this is the final year where the TDRG will be allocated.”
See the post below.
Bailout for SAA will cost nearly 6,000 beneficiaries property ownership in the Western Cape 🏠 due to National Gov cutting the WC Title Deed Restoration Grant (TDRG) by over R23 million, as part of the R10,5 billion bailout to SAA.
— Premier Alan Winde (@alanwinde) October 30, 2020