Research paper shows that the introduction of a BasicIncomeGrant requires significant long-term tax increases and would likely lead to employment losses. Moneyweb
The Social Policy Initiative, a feminist research think- and do- tank, says the possibility of the current R350 social relief of distress grant forming the basis for a permanent Basic Income Grant should be “celebrated with enthusiasm”. Finance Minister Enoch Godongwana extended the grant, introduced in May 2020, for another year until March 2024. Currently more than seven million South Africans are receiving the grant.
Long-term sustainability “Although the consumption of poor households would rise, the model predicts there would be some job losses owing to the contractionary impact on investment and growth from higher debt and higher taxes.” Steenkamp says most of the discussions relating to the extensions of social support lacks solid macroeconomic analysis of the long-term sustainability of higher expenditure, debt and taxes.
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