Use SOE bailout money and give every adult a R1,000 income grant – Michael Jordaan

rpm

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Stop SOE bailouts and give every adult a R1,000 income grant – Michael Jordaan

Former FNB CEO and venture capitalist Michael Jordaan said the government should give a direct income grant of R1,000 to adult citizens to assist them during the coronavirus shutdown.

Jordaan said the R1,000 income grant can initially be a once-off, but it may be needed again in future depending on the impact of the Covid-19 pandemic.

Jordaan also advised a 100 basis point interest rate cut by the South African Reserve Bank this week, but said this will not be enough to rescue the economy.

He said other interventions, like tax cuts for low-income earners and small businesses, are needed to stimulate the economy.
 

Johand

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Nope. Partial Universal Basic Income is a good idea. It will even be good for business by formalizing the bottom part of our economy replacing bartering.
 

trenton

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If the poor are not supported somehow, they will take what they need & chaos will follow, no matter how wealthy or capable you think you are. There is nowhere to run.
 

Creag

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Yet, later today, the SARB will announce no movement in the repo rate. It will remain unchanged. If they were to make a change, their tendency would be a maximum of 25 points.

Their mandate remains unchanged, i.e. to maintain the inflation rate between 3 - 6%. It is currently at 4.5%.
 

supersunbird

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If the poor are not supported somehow, they will take what they need & chaos will follow, no matter how wealthy or capable you think you are. There is nowhere to run.

Only if they spent some of that wealth on automated machine gun turrets, using solar power and battery banks, with lots of ammo, and a fortified location, are they safe.
 

supersunbird

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Yet, later today, the SARB will announce no movement in the repo rate. It will remain unchanged. If they were to make a change, their tendency would be a maximum of 25 points.

Their mandate remains unchanged, i.e. to maintain the inflation rate between 3 - 6%. It is currently at 4.5%.

So they don't foresee it will be dropping under 3%?
 

We Love Bass

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If the poor are not supported somehow, they will take what they need & chaos will follow, no matter how wealthy or capable you think you are. There is nowhere to run.

Dont tell me how to spend my money ok.
 

The Magster

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I'm not an economist nor a political analyst but even I know that SOE bailouts will never ceases. There are way too many pockets to be filled for this to stop. Way too many stakeholders both legitimate and otherwise corrupt who will suffer. So sorry, our tax money will continue to be wasted on these moronic, captured institutions. And the ones who lead them!
 
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