R70 billion City budget gets the green light

The Cape Town City Council this week passed Cape Town’s R70 billion ‘Building Hope’ Budget for 2023/24, which includes a R2,3 billion end load-shedding plan.

Addressing Council, Mayor Geordin Hill-Lewis said the budget includes SA’s most comprehensive indigent relief package and a record infrastructure budget of R43 billion over three years – more than Joburg and Durban combined.

He says the City’s budget team managed to strike a perfect balance between ambitious forward planning, the immediate needs of the city’s most vulnerable residents, and respect and understanding for the increasing pressures felt by ratepayers.

Budget day in Cape Town: R70bn ‘Building Hope’ budget for 2023/24 passed 🏗️🤲💡

Key takeaways: 1️⃣ Indigent relief package 2️⃣ Record R43bn infrastructure budget over 3 years.

We are prioritising vulnerable residents and investing in the City’s future.https://t.co/At4P3ncbEU pic.twitter.com/d3K5v14dR8

— Geordin Hill-Lewis (@geordinhl) May 31, 2023

Social relief expanded:

The budget includes a 100% rates rebate for all properties valued under R450 000, 15kl of free water, and up to 60 free electricity units monthly.
Lifeline electricity customers will also pay 50% less in the 350 – 450 unit usage band, and the City has managed to reduce Eskom’s 18,5% to 17,6% for all customers.
The budget further makes it easier for more pensioners and social grant recipients to get rates rebates by raising the qualifying threshold to R22 000 monthly income.
Cape Town’s ratepayers will also benefit from the lowest rates for residential and commercial properties of South Africa’s metros based on the cent-in-the-rand-rate, with the first R450 000 rates-free on all properties valued under R5 million.

Budget focus on economic growth and job creation:

The budget also includes a R2,3 billion end load-shedding plan.
A 40% bigger infrastructure budget, surpassing even the World Cup investment at a record R11 billion.
Big increases of 100% or more for better sanitation networks to meet the needs of a growing city.
R2,2bn for new water sources, R2,6bn for better roads.
R860m in Technology to Make Cape Town Safer, including CCTV, drones, and dashcams.

Those who want to apply for rates and services relief can visit the City’s website, their nearest City customer officer, or email: indigent.relief@capetown.gov.za

Pensioners 60 years or older and people who receive social grants amounting to no more than R17 500 may qualify for a rates rebate of between 10% and 100%. They are invited to go to the nearest City customer care office, visit the City’s website, or send an email to rates.rebate@capetown.gov.za

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