Business pushes back against ‘unaffordable’ BIG

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The debate over whether a basic income grant would be affordable in SA rages on, with business getting cold feet based on new research, which shows that a BIG could harm both growth and job creation.

The ANC’s recent policy conference confirmed there is significant popular support for the introduction of a large, permanent basic income grant for unemployed adults funded by a wealth tax on SA’s richest. If only it were that simple.

Given the ANC’s waning support, it seems plausible that whoever is president in 2023 will extend the temporary R350 a month special Covid social relief of distress grant for at least another year, and possibly raise it as well, even if this conflicts with the advice of the National Treasury...

 

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