The National Treasury has dismissed the idea of a basic income grant for South Africans, estimating it would cost around R400 billion per year, a burden the economy cannot bear without permanent tax hikes, as reported by Cape {town} Etc .
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This stance contrasts with previous political promises to pursue a basic income grant.In its Medium Term Budget Policy Statement (MTBPS) released in October 2024, the Treasury explained that without a means test, a basic income grant is unfeasible and immeasurable.Over the next three years, 30.6% […]
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