The City of Cape Town today released its 2023/24 budget, highlighting some of the core issues faced by residents and focusing especially on alleviating challenges faced by low- and middle-income households:
Mayor Geordin Hill-Lewis outlined a R2.3 billion plan to end loadshedding in the City of Cape Town. This includes spending R220 million over the next three years on independent power purchases and R288 million to incentivise Capetonians to use less power at peak times.
The City is also proposing a 50% increase in property rate relief, with the first R450 000 of property value now rate-free for all properties under R5 million.
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