Police and education the biggest losers to fund SAA
The departments will lose over R1bn each due to spending reallocations in the medium-term budget
The police and higher education ministries stood out as the biggest losers as the Treasury raided 41 departments to save SAA, spending reallocations in the medium-term budget policy statement (MTBPS) show.
SAA, which has not made a profit since 2011 and has sucked up billions in tax rand, needs an additional R10.5bn to fund its business rescue plan. This is on top of the R16.4bn allocated by the Treasury in February over the next three years to repay historical debt, of which R10.3bn has already flowed to the state-owned airline...