R2.3 trillion is R3,285 per taxpayer per month - MMC ID RR - 30

R2.3 trillion is R3,285 per taxpayer per month - MMC ID RR - 30 https://youtu.be/0J2NUQmRYRE via @YouTube

so i've been making videos every day and this is the 30th video and or the 30th slide in the video series and for the past 10 days i haven't been making videos because i've been working full time getting my first thriller finished and it's almost ready for publication and so now i can take a little bit of breath breather from that and carry on doing these slides and i hope to get back to them every day so a few years ago when the government started working on the new build they came up with a number of 2.3 trillion as the amount of money that needs to spend over 20 years on the new power station build in south africa and just to give you some perspective the two new coal power stations madupia and kusile which are meant to be four point let's say five gigawatts each they are meant to cost 80 billion each so that's 160 billion they're currently costing 500 billion each and then 5 years behind schedule so 160 times 2 is 320 they're almost three times over budget and twice as long to build so if they're almost three times over budget then one can expect that this 2.3 trillion rand will be closer to 6.9 trillion rand and that won't take 20 years to build it'll take 30 years to build but let's suppose it's 2.3 trillion rand and a nice rule of thumb in south africa our average interest rates are 10 and average borrowing time is 20 years so you take the last two zeros off and then you get one two three one two three one two three you get 23 billion rand per month that's repayments so 23 billion per month is what the people of south africa or preparing for the new electricity fleet if we follow the old 20th century technology path uh there's 50 when i wrote this region there were 50 million people today in south africa there's about 57 million people they're worth 7 million taxpayers there's about five million taxpayers now but assuming that they're seven million in taxpayers who have to pay 23 billion a month then that's 3 285 rand per tax payer per month and that's only for the capital repayments so that's without providing one kilowatt-hour electricity each taxpayer south africa will have to fork out at least 3 285 rand and as we've seen in south africa tax is going down and the way that the government collects tax these days is by very high electricity prices very high water prices very high transport prices very high fuel prices incredibly high indirect taxes and these things are strangling the economy and there must be a better way and we'll see that in this presentation thank you for watching sending blessings see you tomorrow