Deputy finance minister David Masondo says reviewing the equitable share formula, which is used to allocate funding to the country’s municipalities and provinces, will be pointless as long as municipalities continue to struggle to collect debt owed to them.
The Covid-19 crisis coupled with the slow economic growth in recent years has led to many of SA’s municipalities struggling to collect revenue, threatening the provision of crucial services such as refuse removal and the provision of clean running water.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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Collecting debt is key, not increasing funding for municipalities, says David MasondoHouseholds owed municipalities close to R130bn as at the end of June, while national and provincial government spheres owed about R30bn, and businesses R18.1bn
Source: BDliveSA - 🏆 12. / 63 Read more »
Collecting debt is key, not increasing funding for municipalities, says David MasondoHouseholds owed municipalities close to R130bn as at the end of June, while national and provincial government spheres owed about R30bn, and businesses R18.1bn
Source: BDliveSA - 🏆 12. / 63 Read more »