Cape Town - MEC for Finance and Economic Opportunities David Maynier will be tabling the province’s Medium-Term Budget Policy Statement (MTBPS), also known as the Mini-Budget and the 2019 Adjusted Estimates of Provincial Revenue and Expenditure, in the provincial legislature Tuesday morning.
In a statement ahead of the mini-budget, Maynier said: “While we have done more than any other province over the past 10 years to promote economic growth and to create jobs, we face severe economic challenges as a result of a weaker global and national economic outlook.
“We are committed, even in this challenging time, where many people have lost hope, or have lost trust in government, to actually get things done,” said Maynier.
The MEC said: “Our MTBPS will detail exactly how we plan to ensure that the province is safer, that we boost economic growth and create jobs, that we create opportunities for people, that we transform the spaces we live in and that we entrench a culture of innovation and good governance.
David Maynier
“The MTBPS will include our revised fiscal framework for the current financial year and the proposed fiscal framework for the next three years; our response to the proposed budget cuts by national government, as well as how we plan to protect frontline services; and our budget policy priorities to deliver our vision for a safer province where everyone prospers, including how we will fund the Western Cape Safety Plan.”
When the national MTBPS was read last month, Maynier called it “a major blow” to provinces and municipalities.
Provincial budgets will be cut by at least R20.3 billion and municipal budgets by R20.5bn over the medium term.
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