CORPORATE RESPONSE
Some praise for solar relief and Eskom boost
As corporates respond to the budget, private-public involvement is seen as an important element
Charles Pettit, CEO of Apex Partners: “The budget seemed to be well considered, with good intentions. It is positive in that there was some modest tax relief for individuals and some assistance for those who are investing to generate their own power. However, there will be limited implementation of the other policy objectives … as simply allocating money to broken municipalities, government departments and SOEs [state-owned enterprises] will continue to achieve nothing. Beyond a few public-private partnerships there was no recognition of the critical role that the private sector must play in managing state assets if the economy is to be saved and then turned around.”
Mike Teke, CEO of Seriti Resources: “The announcements by the finance minister regarding incentives to the private sector to install renewable energy facilities is most welcome. The 125% tax allowance on construction costs for renewable facilities should make a significant contribution to the alleviation of load...
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