Budget 2023: Political parties worried about rise in public debt

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Power utility Eskom will be receiving another major bailout over the next three years worth just over R250 billion.

This while they welcomed Finance Minister Enoch Gondogwana’s announcement that there will be no major tax increases this year.

The African Christian Democratic Party’s Steve Swart said while the relief is good news, his party is worried about how money is allocated to Eskom. These sentiments were shared by United Democratic Movement’s Nqabayomzi Kwankwa who says it doesn’t help to throw more money at the power producer."And now we think that by doling out more money to Eskom we are going to solve the problem without addressing the entity's underlying challenges - which have to do with governance and leadership. The bottom line, I don't think we have the right people to run the entity," said Kwankwa.

 

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