On Friday, chairperson of the university fees commission Judge Jonathan Heher rhetorically asked why the government was not tapping into large sources of cash such as the Unemployment Insurance Fund (UIF), to pay for government programmes. Heher told Finance Minister Pravin Gordhan‚ who was making his submission in Pretoria on Friday‚ that in the next 10 years, the UIF would have accumulated a surplus of R296bn. By June 2016‚ it had a surplus of R126bn which Heher said could be used for higher education instead of lying dormant. "In our minds‚ that is government money wasted‚ simply allowed to lie in the hands of one group of people to do what they like with it‚" he said. Gordhan said the ministry was not aware of this evidence and asked the commission to provide it to the Treasury so that it could be evaluated and assessed. Asked to elaborate on his response after his submission‚ Gordhan said some of these types of funds were contributions by employees and employers, and were not p...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now