Government could announce a new R35 billion grant for South Africa next week: economists

[BusinessTech]

Government could announce a new R35 billion grant for South Africa next week: economists

Finance minister Enoch Godongwana is expected to give formal clarification on the feasibility of a basic income grant for South Africa when he presents his medium-term budget policy statement (MTBPS) next week, says investment bank BNP Paribas.

 

[Hemi300c]

Lies and hooks for votes.

 

[callvm]

Finance minister Enoch Godongwana

Lol, who??

 

[Fulcrum29]

Lies and hooks for votes.

People usually take the position and label this as electioneering, but these decisions are pushed through nevertheless, and when it becomes unsustainable, we worsen the socioeconomic conditions with new and more consequences.

Yes, it may be a hook, but it isn’t necessarily a lie at this time. It could be announced next week and implemented in the new budget.

As I assumed, I believe the bank is spot on,

“We expect Mr Godongwana to rather advocate a restructuring of the existing grant framework and perhaps the introduction of new, more targeted ‘job seekers’ grant which could look to replace the current special relief of distress grants in the 2022/2023 financial year,” it said.

“We estimate that this could cost the fiscus R30 billion – R35 billion (0.5% of GDP per annum) as early as next year and would mean that social protection spending as a percentage of revenues settles 2-3 percentage points above pre-Covid-19 levels.”

as we are in no position to announce or validate BIG. As with everything targeted, I do expect some economic acceleration demands to go along with it, but that will rest with the DTI.

 

[Ghost64]

That’s quite cool...

 

[dunkyd]

Hope the voting fodder can read ?

 

[ConfusedR]

Yet the ANC cannot replace pit toilets at all schools and whatever they are trying to build, is falling apart because of corruption.

 

[AfricanTech]

Where is the money coming from?

 

[dunkyd]

Where is the money coming from?

My and your pockets

 

[HumanShield]

Smell those elections.

 

[callvm]

Where is the money coming from?

us

 

[mojoman]

That’s quite cool...

Yes, it is indeed!

 

[Jet-Fighter7700]

Smell those elections.

I smell them, smells of the stink of the Pig trough that the ANC uses to try and woo voters, that slowly begin to realize how corrupt and incompetent the ANC truly is.
will turn SA into a bottomless pit of misery, all to enrich themselves and their "friends"

but you know, you'll still vote for them, so I guess enjoy?

 

[azbob]

Why can people not accept their place in life? All natural systems have a hierarchy.

 

[B-1]

Why can people not accept their place in life? All natural systems have a hierarchy.

Yeah you have hosts and parasites everywhere in nature. If you have a bunch of leaches sucking your blood just accept it.

 

[The_Librarian]

Where is the money coming from?

My and your pockets

Yup, our nasty pocketses...

This is going to push me over the edge, and when it happens I will not be happy.

 

[The_Librarian]

Smell those elections.

Mmmm, nothing like the smell of electioneering on a morning...

*BARF*

 

[azbob]

Yeah you have hosts and parasites everywhere in nature. If you have a bunch of leaches sucking your blood just accept it.

You can just pull a leech off but a worker bee will never be a queen.

Yup, our nasty pocketses...

This is going to push me over the edge, and when it happens I will not be happy.

What happens when you’re not happy?

 

[dualmeister]

Where is the money coming from?

Your hard earned tax.
So you are sponsoring a bunch of freeloaders.
May as well register as a charity.

 

[Brontosaurus]

"The problem with socialism is eventually you run out of other people's money"

- Some dude who's name I can't be bothered to google now.