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Cape Town approves SA’s biggest pro-poor infrastructure investment<p>‘Cape Town’s infrastructure spend of R39,5bn over three years is more than all three Gauteng metros combined, and forms part of a R120bn 10-year pipeline of planned projects that will catapult Cape Town into the future city we all hope it can be, for ourselves, and our children.<br></p><div>‘When people look back at these times for our city, it is my hope that they will see the efforts made to place Cape Town at the very centre of positive change, at the heart of our national economy, and at the cusp of a better future for families who have real hopes. Hopes for a better life for the next generation, for an economy that works better now, with no load-shedding, much safer communities, and importantly, dignity, for all Capetonians, no matter where you live or your socio-economic circumstances,’ said Mayor Hill-Lewis.<br></div><div><br></div><div><span> <figure class="subtopic-fullsize-img"> <img src="" class="responsive" alt="" style="width:949px;" /> </figure>​​</span><br></div><div><br></div><div>The City estimates its infrastructure investments will yield an estimated 130 000 construction-related jobs alone over three years.</div><div><br></div><div>‘With SA’s lowest unemployment rate and well over 300 000 jobs added since the start of this municipal term, Cape Town is already the city where a person is most likely to find a job, and we plan to do much more to grow our economy in the years to come to the benefit especially of lower income households,’ said Mayor Hill-Lewis.</div><div><br></div><div>The Mayor said lower income households will directly benefit from 75% - or R9bn - of Cape Town’s R12bn infrastructure spend in 2024/25. </div><div><br></div><div>‘This pro-poor infrastructure spend in 2024/25 is bigger than the entire infrastructure budget of any other city. It is the factual end of the debate on which city is doing the most for the poor.</div><div><br></div><div>‘At the beginning of this term of office, we committed to do more – to end load-shedding, to make Cape Town safer, release more land for housing, improve public transport, do the basics better, clean up our city and waterways, and make Cape Town the easiest place to do business in Africa. </div><div><br></div><div>‘We are taking a big step towards achieving these goals with this Building For Jobs Budget, which targets our investments towards Cape Town’s fastest-growing, and poorest areas, with infrastructure projects that will, over time, unstitch the unjust legacy of our country’s past,’ said Mayor Hill-Lewis.</div><div><br></div><div><strong>Cape Town passes SA’s most inclusive Social Package</strong></div><div>For 2024/25, Cape Town’s social package compares favourably to other cities on all the main pro-poor criteria, including: </div><div><ul><li>The highest Free Water allocation, at 15KL monthly</li><li>The widest qualifying criteria for a 100% rates rebate, at R450 000 property value,  or R7 500 monthly income</li><li>The Widest qualifying criteria for lifeline electricity, at R500 000 property value, <R7 500 monthly income</li><li>And for pensioners: the widest rebate and lifeline electricity criteria, at R22 000 monthly income, regardless of property value<br></li></ul></div><div><br></div><div>Cape Town also has the highest proportion of residents benefitting from free basic water and electricity, according to StatsSA’s non-financial census data for municipalities released in March 2024. The City is 10 percentage points ahead of the next metro for free electricity, and 25 percentage points ahead for free water and sanitation.</div><div><br></div><div>‘When one considers all that Cape Town is achieving in passing this budget – a record infrastructure investment, an unrivalled pro-poor agenda, and impetus for a job-creating economy – let us all remember one very important thing.</div><div><br></div><div>‘Absolutely none of this would be possible without good governance, and the culture of pride in service delivery, especially for the poorest, that is now embedded in our professional civil service, after many years of political stability in Cape Town,’ said Mayor Hill-Lewis.</div><div><br></div><div><strong>Cape Town offers Lowest Property Rates of SA’s metros</strong><br></div><div>The City of Cape Town offers the lowest property rates for Commercial, Industrial, and Residential properties, based on the cent-in-rand rate statutory formula used by municipalities to calculate property rates.</div><div><br></div><div>Cape Town’s property rates are lower than the next metro, Joburg, by 32% for commercial, 36% for industrial, and 28% for residential properties, based on the 2024/25 draft budgets tabled by each metro.</div><div><br></div><div>Cape Town’s annual property rates increase has been limited to an inflation-related 5,7%, and water and sanitation to 6,8%. The City has also been able to reduce Eskom’s 12,72% increase to 11,78%.</div><div><br></div><div><strong>2024-25 Cent in Rand – Residential properties</strong></div><div>Cape Town – 0,006631</div><div>Johannesburg – 0,009213</div><div>Mangaung – 0,010602</div><div>Ekurhuleni – 0,011520</div><div>Tshwane – 0,012200</div><div>eThekwini – 0,013619</div><div>Buffalo City – 0,015000</div><div>          </div><div><strong>2024-25 Cent in Rand – Commercial properties</strong></div><div>Cape Town – 0,015582</div><div>Johannesburg – 0,023033</div><div>Ekurhuleni – 0,023050</div><div>Tshwane – 0,030510</div><div>eThekwini – 0,034650</div><div>Mangaung – 0,036056</div><div>Buffalo City – 0,037400</div><div>          </div><div><strong>2024-25 Cent in Rand – Industrial properties</strong></div><div>Cape Town – 0,014742</div><div>Johannesburg – 0,023033</div><div>Ekurhuleni – 0,028810</div><div>Tshwane – 0,030510</div><div>Mangaung – 0,036056</div><div>Buffalo City – 0,037400</div><div>eThekwini – 0,044576</div><div><br></div><div><em>*Nelson Mandela Bay 2024/25 formulas unavailable at the time of writing. NMB 2023/24 formulas: Residential (0,012073), Commercial (0,024146), Industrial (0,030183).</em></div>2024-05-30T22:00:00ZGP0|#1d539e44-7c8c-4646-887d-386dc1d95d70;L0|#01d539e44-7c8c-4646-887d-386dc1d95d70|City news;GTSet|#62efe227-07aa-45e7-944c-ceebacca891dGP0|#d9de9d04-a942-4b93-be21-5a5380b0ca77;L0|#0d9de9d04-a942-4b93-be21-5a5380b0ca77|Budget and finance;GTSet|#2e3de6c1-9951-4747-8f53-470629a399bb10

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