Treasury’s R800m clapback
Stiff rates hike likely to make up shortfall if grants withheld
Almost R800m is what the Nelson Mandela Bay municipality expects the National Treasury to withhold in grants and money meant to subsidise the most destitute in the city for the remainder of the 2019/2020 financial year.
As a result, the municipality has started to rework its budget to accommodate the possible loss before it is presented to the city council on February 27 for approval...
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