Mar 18, 2013
Wasted govt money bemoanedBack
Projects|SA Institute Of Race Relations|Lucy Holborn
"To put it in terms that some of our politicians might better relate to, this money could pay the presidential salary (at its current rate) for over 9 000 years"
"We have become so inured to seeing examples of corruption and wasteful expenditure running into millions and billions of rand that it is easy to forget quite how much money this really is and what could be done with it," research manager Lucy Holborn said in a statement.
The SAIRR was responding to a recent Auditor General report that found provincial departments and entities had incurred R24.8-billion in "unauthorised, irregular, wasteful, and fruitless expenditure".
The SAIRR calculated that this money could have built over 400 schools. For the same amount it could have educated a fifth of the total public school pupil population – 2.5-million pupils – for one year.
The sum could otherwise have been used to fund 1.2-million university students, more than the total number of students now enrolled at universities.
The sum was also equivalent to 7.4-million child support grants for one year, or 1.7-million old age pensions.
Based on the price of a newly built prison in Kimberley, which cost R45-million, the R24.8-billion could have been used to build 550 new prisons.
The projected cost of the new Nelson Mandela Children's Hospital being R1-billion, the money could have built 24 children's hospitals, the SAIRR said.
Holborn said: "To put it in terms that some of our politicians might better relate to, this money could pay the presidential salary (at its current rate) for over 9 000 years; it could pay the annual cost of catering for all national departments 125 times over; or it could build 120 Nkandlas."
Edited by: SapaComment Guidelines (150 word limit)
Other Economy News
Recent Research Reports
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
This Week's Magazine
The board of UD Trucks Southern Africa (UDTSA) has announced the resignation of MD Jacques Carelse. Long-time UD employee, corporate planning and marketing GM, Rory Schulz, has been appointed as acting MD while the process started to appoint a new MD. The Japanese...
There is a need to start planning another pumped storage scheme in South Africa. Much work has already been done at a site in the Limpopo province and the project was very close to being put out to tender at one stage. In 2008/9 the National Energy Regulator of South...
The Coega Development Corporation (CDC) is preparing to leverage its strategic coastal position to develop the Eastern Cape economy through proposed aquaculture development zones (ADZs), with a proposed R2-billion project aiming to contribute $278-million to the...
Completion of the ongoing construction of the 102 km Zomba–Jali–Phalombe–Chitakale road, in southern Malawi, has been extended from June to December 15 because of persistent rains and difficulties in paying the contractor. The project is being undertaken by Kuwait's...
The Malawi government has awarded South African firm Fischer Consortium the contract to upgrade the Malawi Road Traffic Information System. The Directorate of Road Traffic and Safety Services at Malawi's Ministry of Transport and Public Works says Fischer...