DA claims to have confirmation of Treasury head of budget's resignation

The Finance Ministry told Eyewitness News on Monday morning that Michael Sachs has not resigned.

FILE: Michael Sachs. Picture: YouTube screengrab

JOHANNESBURG - The Democratic Alliance (DA) says that it has confirmation that Treasury's head of budget, Michael Sachs has resigned.

National Treasury, however, says it will release a statement later on Monday to address this issue, as well as concerns raised about new funding models reportedly being considered by President Jacob Zuma, to allow for free education.

Zuma reportedly planned to reveal a free higher education plan last week but was stopped in his tracks by officials at the Treasury.

The Finance Ministry told Eyewitness News on Monday morning that Sachs has not resigned.

The DA's shadow minister of finance David Maynier said: “Well it seems to me from my sources that Michael Sachs has in fact resigned and I think that it is a huge blow to National Treasury. At the end of the day it means that decisions about budget priority and, indeed, the budget itself have been centralized in the Presidency under President Jacob Zuma."