Treasury’s Sachs also calls it quits
Fears this will cause Budget crisis
THE DA has expressed fears that the resignation of Budget chief Michael Sachs will plunge the process into a crisis. DA spokesperson for finance David Maynier said Sachs’s departure might have been triggered by deepening chaos in the decision-making on the Budget.
“The shock resignation of veteran Budget office head Michael Sachs, which is a huge blow to National Treasury, confirms our fears that decision-making on Budget priorities, and the Budget itself, have now been centralised under President Jacob Zuma,” Maynier said.
The department yesterday confirmed Sachs’s decision to leave his post although the actual reasons for his departure were still not clear.
National Treasury expressed sadness at the resignation of Sachs.
Finance Minister Malusi Gigaba hailed him for excellent service and commitment to both the national Budget as well as the department over the years.
“Both the director-general and I are aware of protecting the integrity and transparency of the Budget system and process, and ensure that all tax and expenditure decision processes continue to be run by the Treasury and minister of finance, and continues with the consultative process introduced by the first democratic government,” Gigaba said.
While Sachs will not leave the department immediately as part of ensuring a smooth handover, his decision has been viewed as having a potential to further weaken the Treasury.
It has reiterated that there were senior, experienced officials who are capable.
“Mr Sachs works with many knowledgeable technocrats who he has also helped groom over his years at the department,” a statement read.
Maynier said said Sachs’s resignation during the middle of a fiscal crisis would plunge the Budget process into a crisis. He said it could trigger the departure of other senior officials who might also be frustrated by how the department is being run.