National Treasury Questions Affordability of Basic Income Grant for South Africa
The proposed Basic Income Grant (BIG) for South Africa faces major financial hurdles. National Treasury recently projected that the program could cost up to R400 billion per year. This expense, they warn, would require significant tax increases to fund, casting doubt on the program’s affordability despite strong political support. High Costs and Potential Tax Increases
If implemented without a means test, a BIG that serves roughly 35 million South Africans aged 18 to 60 could quickly cost R400 billion each year. Funding this initiative would demand major tax […]
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