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Top Treasury official throws in the towel?

Opening of South African parliament and State of the Nation address

Picture: NIC BOTHMA

Michael Sachs, who was a deputy director general, heading up the budget office, has reportedly quit over interference by the Presidency, according to media reports.

Fin24 on Monday reported that it obtained independent confirmation from two sources close to Treasury that Sachs had resigned last week over the issue of free higher education.

According to reports by the Business Day newspaper a “joint team from the Treasury and the Office of the President” are combing through Finance Minister Malusi Gigaba’s medium-term budget policy statement looking for R40 billion in expenditure cuts to fund free higher education.

This proposed revision to the budget is what led to Sachs resignation with more Treasury officials expected to follow according to the Business Day.

These reports have however been disputed by National Treasury.

Eye Witness News (EWN) reported that treasury is expected to release an official statement later today to address these reports and issues raised around new funding models reportedly being considered by President Jacob Zuma to provide free education.

 

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