‘Our vision must be to promote employment rather than ever-increasing state-funded income support,’ the Presidential Economic Advisory Council said. Image: Bloomberg A panel of economic advisers appointed by South African President Cyril Ramaphosa warned against implementing a basic income grant in the world’s most unequal nation, saying the multibillion dollar cost could deepen debt and hinder economic growth.
As recently as September, Ramaphosa has said that a basic income grant — which would be the biggest of its kind globally if implemented — should be considered to alleviate poverty. That statement has put him at odds with his finance minister […]
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