President delivers good news to South Africans as of today

All unemployed people to receive this much money per month – Agency

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All unemployed people to receive this much money per month – Agency.




All unemployed people to receive this much money per month - Agency




The implementation of a permanent basic income award for South Africa starting in 2019 has been planned by credit ratings agency Fitch, but it is still unclear how the increased spending would be covered in the long run.




READ ALSO: R350 BENEFICIARIES NEED TO DO THIS BEFORE IT IS TOO LATE.

Fitch stated in its most recent ratings action commentary for South Africa that “the government has approved a one-year extension of the special relief of distress grant, at a cost of R44 billion.




And large unallocated reserves for subsequent years create some room for further continued social spending, but we assume a permanent new social spending will be approved that will exceed these provisions” (7 July).




All unemployed people to receive this much money per month - Agency




“Savings elsewhere would only be somewhat compensated by this and greater compensation. At first, this may be offset by strong current revenue, but it might also indicate increasing deterioration of expenditure ceilings as a fiscal anchor.




READ ALSO: R350 BENEFICIARIES NEED TO DO THIS BEFORE THE 13TH OF JULY.

After the Social Relief of Distress Grant was introduced to aid the poorest residents of the nation of South Africa cope with the impacts of the Covid outbreak, support for a permanent social assistance grant increased.




The Basic Income Grant (BIG) would offer income support to anyone between the ages of 18 and 59 who are having financial difficulties but are not receiving any social assistance.




All unemployed people to receive this much money per month - Agency




The amount that each person would be paid and the expense of implementation for the government are still up for debate.




READ ALSO: R350 BENEFICIARIES NEED TO DO THIS BEFORE IT IS TOO LATE.”

National Treasury stated in its February 2022 budget that it was still debating suggestions for a universal basic income award for South Africa but insisted that it could not be implemented in a “fiscally reckless fashion.”




The administration is reportedly examining many options in this way. “The Covid-19 epidemic boosted public debate on the potential of a universal basic income handout,” it stated.




All unemployed people to receive this much money per month - Agency




“Any suggestions to extend this system must be completely and appropriately funded, either through permanent increases in tax collection or by cutting existing programs to free up funds.”




READ ALSO: R350 BENEFICIARIES NEED TO DO THIS BEFORE THE 13TH OF JULY.”

Contrary to what supporters of a basic income grant (BIG) assert, a BIG would actually limit economic development, according to a paper by the policy research and advocacy organisation, the Centre for Development and Enterprise (CDE), released in June.




While providing impoverished people with cash transfers would enhance their spending, the slower economic growth and worsening economic sustainability would result from the higher taxes or more borrowing required to finance a BIG.




A group of ANC members want Ramaphosa to be delt with because of this




Slower growth and increased borrowing would increase the debt ratio. Since 2008, the government’s debt has risen from about 26% of GDP to about 70% – a rise that is among the steepest in the world. There is no consensus about what a BIG would cost.




“READ ALSO: MAN FLEES NAKED ON THE STREET AFTER BEING CAUGHT IN BED WITH ANOTHER MANS WIFE.”

The Social Relied Distress grant costs about R44 billion a year, but proponents of a BIG want a much larger grant for which more people would be eligible, likely costing between R200 billion and R300 billion a year.




Must Read: Bad news recieved by the president this day




11 thoughts on “All unemployed people to receive this much money per month – Agency

      1. I’m had applying in April and May for the srd grant but nothing I have a sassacard but I’m still waiting what must I do

  1. I Teboho Gladys Mashigo have not received my R350 grant ever since I have registered for it and I’m still waiting even now it has been 3 months now please help I need this money as I have no income and unemployment

  2. I have been approved since December up until April and have not received any payment up until now. I have phoned numerous times, they promised I would receive it by march, emails not delivered and I’m still waiting. This is empty promises and I feel the system has failed and forgotten about me…

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