The Democratic Alliance (DA) in Johannesburg rejects the ANC-EFF-PA-ActionSA coalition’s lie that they are borrowing yet another R2.5 billion to fund infrastructure projects across the City.
This is the second 15-year, R2.5 billion loan the City of Johannesburg has taken in less than a 12-month period. In both instances these loans are touted as being tied to the City’s capital expenditure, and that it will be used for infrastructure maintenance and upgrades – the truth is more sinister. They borrow to pay salaries, not to build.
The City’s overreliance on loans is destructive. The current administration is robbing residents to pay their debts. Residents’ pockets cannot continue to be the piggy bank and saving grace of a City that is unable to manage its own finances.
The DA believes in fiscal responsibility, economic growth, and job creation, with a focus on reducing government debt and promoting private sector investment. Something the current Coalition has no idea or will to do, because it requires actual work – the people who walk Johannesburg’s broken streets can attest that the Executive has an aversion to do the work that’s needed.
Asking for more money to fund the same problematic failures is not the solution. The City should go back to basics and focus on the poor management of finances, which lies at the very core of all issues the City faces. If they even tried to cut cadres, corrupt individuals and criminality out of the system, they could restart the financial core of South Africa. Until then, nothing will change.
The Auditor-General has made the deficiencies in the system clear. The ANC-EFF-PA-ActionSA Coalition fails to act on recommendations, but rather aims to dig the City’s financial hole even deeper.