h1

Budget: Lots of money for Electricity Generation

21 February 2008

It’s not often that Finance Minister Trevor Manuel gives more than the DA asks; but, as far as the energy crisis is concerned, he did just that – in certain respects, at least – on Wednesday.

In the DA’s 2008 Alternative Budget, entitled “Powering Growth, Opportunity and Democracy“, we allocated R50 billion to help finance Eskom’s power generation expansion and R1.2 to diversifying power generation and reducing demand on the grid.

In his speech in the National Assembly, Manuel announced that R60 billion will go to Eskom’s investment programme and an additional R2 billion would be allocated to promote more efficient power usage.

Where he fell short, however, (and perhaps how he could budget R10.8 billion more than the DA to those two things) was in not doing enough to stimulate growth and job-creation in the face of the draining effects of the electricity crisis. The DA’s budget included a R14.5 billion stimulatory package to assist the economy and encourage foreign direct investment.

Advertisements

3 comments

  1. I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you.

    Susan Kishner


  2. […] unknown wrote an interesting post today onHere’s a quick excerpt […]


  3. Eskom’s unilateral decision this week to stop all development is scandalous and has the potential of ruining the economy by these uncalled for and unwarranted public announcements. Government should, as proposed bu the DA before, set up a multi-disciplinary task team, inter alia from the private sector, Eskom, Nersa, government and the economical sector to advise it on appropriate emergency steps to take in order to bring some form of stability to the national electricity grid.

    We should not be reliant on Eskom to singlehandedly ruin the economy, thereby holding government, the public and the country to ransom.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: