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Sachs resignation a huge blow to the National Treasury

Democratic Alliance has reacted with shock to the resignation of veteran budget office head, Michael Sachs, saying his departure is a huge blow to the National Treasury.

DA Shadow Minister of Finance David Maynier said Sachs exit confirms fears that decision-making on budget priorities and the budget itself, have now been centralised under President Jacob Zuma.

“And it seems that National Treasury are slowly being “defanged” and reduced to “bookkeepers”, with declining influence over budget priorities, and the budget itself under President Jacob Zuma,” said Maynier.

Finance Minister Malusi Gigaba said he was saddened by Sachs’ resignation.

“I thank him for his excellent service and strong commitment to the national budget as well as the department over the years,” said Gigaba. Maynier said he would write to the Chairperson of the Standing Committee on Finance, Yunus Carrim, requesting him to schedule an urgent hearing on this matter before the end of recess in Parliament.

“We can only hope that there is no snowball effect and that other senior officials at the apex of the system hold steady do not resign from National Treasury,” added Maynier.

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