Business Unity South Africa says a basic income grant must be considered carefully as it may have unintended consequences (Getty Images) A basic income grant would warrant spending cuts in other priority areas, Business Unity South Africa said on Monday.
It could potentially destabilise weak tax revenue growth, and lead to other costly and disruptive impacts on the economy, said BUSA CEO Cas Coovadia.
Business instead backs social support through an unemployment insurance-type of product, which meets certain conditions. Funding constraints mean the implementation of a basic income grant could lead to spending cuts in priority […]
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