The social distress grant, reinstituted after July’s riots, is not expected to be permanent and is expected to be replaced by a form of basic income grant (BIG), says Investec chief economist Annabel Bishop.
In a research note ahead of South Africa’s Medium Term Budget Policy Statement (MTBPS) on 11 November, Bishop said that there are now 7.8 million unemployed and 3.3 million discouraged job seekers, bringing the cost of a R350 BIG potentially to R46.8 billion a year, or R32.9 billion a year without including the discouraged job seekers, and both without any additional administrative costs.
“There could also be […]
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