EDITORIAL: A credible budget and clarity on Eskom debt is needed

The need for decisiveness in setting a fiscal direction is greater than ever. Picture: 123rf

He also needs to find ways to boost the country’s confidence, otherwise this budget will simply add to the negativity and despair that the power crisis, among the other crises in government, have driven. However, what we do not want to see is an Eskom debt restructuring that just perpetuates the problem. Godongwana has said he will do the deal only if there are conditions in place that ensure Eskom will not be back with the begging bowl.

The more private power comes on to the grid, the better it will be for all of us. Equity is important at a time when larger businesses and more affluent households can afford to invest in backup power, but smaller poorer ones cannot. Equalising the rebate for diesel that goes into generators also makes sense — Eskom gets the rebate and businesses with private generators should too. Giving more money to Eskom to pay for diesel is a more difficult one.

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