A green paper published by the Department of Social Development this week formally proposes introducing a basic income grant for South Africa, but finance officials have warned that the country needs to be more ‘realistic’ about its social security plans.
The green paper proposes three options for a universal income, ranging from R585 to R1,268 a month, based on the country’s existing poverty lines.
To raise enough funds for even the lowest of these options, the green paper suggests an income tax hike of 10 percentage points to raise the approximately R200 billion needed.However, deputy finance minister David Masondo cautioned against […]
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