The Treasury said last week it asked departments to prepare proposals on cutting their budgets 5% in 2020, 6% in 2021 and 7% in 2022, which is estimated to peel off as much as R300bn over three years.

This was largely aimed at plugging the funding gap the Eskom bailout will create, reducing borrowing requirements and keeping ratings agencies at bay with their concern about the country’s fiscal health (or lack of it)...

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