The unemployment rate is the highest ever. Treasury Minister Enoch Godonwana has receded expectations that the government is about to announce a basic income grant.
In his medium-term budget speech, he emphasized that South Africa has already spent more than R1 trillion on social subsidies.
Additional grants must first “pass the sustainability and effectiveness test by raising sufficient and adequate funding to ensure that the fiscal balance does not deteriorate.” Treasury Minister Enoch Godonwana did not suggest in his first medium-term budget speech that he was keen to accept a basic income grant, while South Africa […]
Full Post at eminetra.co.za