BUDGET 2023 | Godongwana warns of tax hike if calls for basic income grant persist

Finance minister Enoch Godongwana has warned he will have no choice but to increase taxes if he’s forced to introduce a basic income grant.

Godongwana was speaking at a pre-budget briefing in Cape Town tabling the 2023/2024 budget in parliament on Wednesday.

“For argument's sake, let’s say we want to increase the R350 social relief of distress grant or improve it and make it a basic income grant … you must also know you’re calling for me to tax you more.” The SRD grant was introduced in 2020 at the height of the Covid-19 lockdown to cushion the poor and unemployed from the economic impact of the pandemic.“In 2023/2024, R35.7bn is allocated to the South African Social Security Agency to administer it. Government is still considering alternative options to provide appropriate social protection for the working age population that can replace or complement the grant.

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