Ramaphosa Opts for Cash over Cabinet Reshuffle, Covid Cases Surge

LOCAL NEWS

• Economists are mostly pleased with Govt's R36.2bn economic support package, but mostly due to the lack of issuance to cover funding which will come from a tax windfall this year and budget re-prioritisation to keep the spending cap intact
• Political analyst says Ramaphosa should have opted for a Cabinet reshuffle, but has opted to throw money at the problem instead (economic support package) – making a reshuffle unlikely.
  • Notes Ramaphosa's political fortunes are too tenuously balanced, and he needs cabinet hawks such as Bheki Cele on his side for back-up in KZN as he tries to stave off a bigger political challenge to his authority
• SA records large jump in covid cases at 17,000 (7,000 prior) new infections & 520 deaths (370).
  • This may be due to the lagged effect of the recent social unrest and lower testing during the period, which is starting to pick up now
• Union Numsa to meet with miner Harmony Gold today for another round of wage negotiations.
  • Numsa is calling for a 3-year agreement with a 15% increase in the first year, 16% in the second year and 17% in the third alongside housing allowances