{"id":692875,"date":"2023-05-31T14:02:59","date_gmt":"2023-05-31T12:02:59","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=692875"},"modified":"2023-05-31T14:02:59","modified_gmt":"2023-05-31T12:02:59","slug":"cape-town-sets-record-infrastructure-budget-including-r2-3-billion-to-end-load-shedding","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/government\/692875\/cape-town-sets-record-infrastructure-budget-including-r2-3-billion-to-end-load-shedding\/","title":{"rendered":"Cape Town sets record infrastructure budget – including R2.3 billion to end load shedding"},"content":{"rendered":"

\u00a0The City of Cape Town’s Council has passed the <\/span>\u2018Building Hope\u2019 Budget for 2023\/24, with the city passing a record infrastructure budget of R43 billion over the next three years – \u00a0more than Johannesburg and Durban combined.\u00a0<\/span><\/p>\n

“Our budget team managed to strike a perfect balance between ambitious forward planning, the immediate needs of the city\u2019s most vulnerable residents, and respect and understanding for the increasing pressures felt by ratepayers,” said Mayor Hill-Lewis.<\/u><\/p>\n

“While many other metros and municipalities are struggling to keep up with service delivery demand and the substantial investment in infrastructure that this requires, we have just tabled a record R11 billion capital expenditure budget, and we have clear plans and targets to stay ahead of the rate of population growth and urbanisation in Cape Town.”\u00a0<\/u><\/u><\/p>\n

The budget will include a comprehensive social package linking indigent relief to property value, with a 100% rebate for properties valued under R450,000, 15kl of free water, and up to 60 free electricity units per month.<\/p>\n

Ratepayers with properties valued under R5 million will also receive the first R450,000 rates-free.<\/p>\n

In addition, lifeline electricity customers will also pay 50% less in the 350 \u2013 450 unit usage band, with the city also able to reduce Eskom’s 18.49% tariff hike to 17.6% for all customers.<\/p>\n

The city added that the budget would allow pensioners and social grant recipients to receive rate rebates by increasing the qualifying threshold to R22,000 monthly income.<\/p>\n

The budget also includes:<\/p>\n