LETTER: Budget control is key
Those officials flouting treasury regulations need to be held personally liable — then we can expect a favourable turn of events
"Curbing Rampant Debt" by the DA’s David Maynier (On My Mind, May 31-June 6), refers. It shows the high cost of borrowing as the country sets aside R214bn annually to meet the interest incurred on our sovereign debt, which now stands at over R3 trillion. In 24 years of ANC mismanagement, the country has lost over R1 trillion to corruption, and we are still counting. Medupi power station’s cost mushroomed from R30bn to R180bn. This indicates wastage on a grand scale, which burdens us further, as do our state-owned enterprises and failing municipalities. The misuse of budgeted funds affects service delivery and denies upliftment to those in need. It is of little use for Maynier to try limit our debt as a percentage of what it was in the previous year, when the cause is incompetence and corruption. For example: education receives the largest budget allocation, yet textbooks aren’t delivered and often second-rate teachers are employed. In a sense, this is a poor return on equity. What i...
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