In The News South Africa

Treasury confirms resignation of budget chief

CAPE TOWN, November 13 – National Treasury on Monday confirmed the resignation of the head of its budget office, deputy director general Michael Sachs.

 

 
“The Minister of Finance, Malusi Gigaba, is saddened by Mr Sach’s resignation but has thanked him for his excellent service, and strong commitment to the national budget as well as the department over the years,” the department said.

 

 

 
According to National Treasury, Sachs was leaving to serve government in another capacity.

 

 

 
But media reports on Monday said he was leaving in protest at interference by the presidency in the budget process, notably around the issue of funding free tertiary education.

 

 

 
The Sunday Times reported at the weekend that Sachs threatened to quit if Zuma were to drive through a plan to divert R40 billion from existing budget allocations to fully subsidise tertiary education for families with a combined annual income of less than R350,000.

 

 

 

 

 

National Treasury said on Monday it could not confirm reports that the head of budget officer, deputy director general Michael Sachs, had resigned.

“For the moment we cannot say anything, but we will release a statement before the end of business today,” a spokeswoman said.

Media reports said Sachs walked out in protest at interference by the presidency in the budget process, notably around the issue of funding free tertiary education.

The Sunday Times reported at the weekend that Sachs threatened to quit if Zuma were to drive through a plan to divert R40 billion from existing budget allocations to fully subsidise tertiary education for families with a combined annual income of less than R350,000.

ANA

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