Business News: Basic Income Grant Being 'Seriously' Considered by Government

Business News: Basic Income Grant Being 'Seriously' Considered by Government

  • The basic income grant in SA is being 'seriously' considered by Government, according to President Cyril Ramaphosa
  • Ramaphosa stated that Government would need to pay cash stipends out to address the poverty and inequality plaguing the country
  • The president was speaking at the online lecture for Mandela Day on Sunday, 18 July and the news was received differently by SA social media users

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President Cyril Ramaphosa recently stated that the basic income grant is seriously being considered as there are proposals that Government pays cash stipends out to address the high levels of poverty and inequality that fuelled the unrest.

Ramaphosa said this in an online lecture on Sunday. He added that it is being discussed within the African National Congress and at Government level. Treasury is discussing the aid that is taking place and the presidency is considering a separate support package for businesses and individuals.

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The support packages are for those impacted by the issues that have been plaguing the country over the past week where at least 212 deaths have been reported.

Business News, Basic income grant, being considered by gov
The basic income grant is supposedly being seriously considered by the SA government. Image: Stock Photo
Source: Getty Images

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Bloomberg stated that the violence shut key infrastructure down and either damaged or destroyed it, leading to the nation's economic recovery from 2020 going on a strong downturn.

A report by BusinessTech stated that during the Mandela Day memorial lecture on Sunday, 18 July, Ramaphosa stated that the grant would help people know that 'the government cared' for them.

Briefly News takes a look at South African citizens who qualify for the basic income grant

Previously, Briefly News reported that Social Development Minister Lindiwe Zulu has reportedly confirmed that a "discussion document" for the financing of the BIG in Mzansi has been created. The aim of the grant is to replace the R350 Covid-19 grants.

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The Covid-19 grants recipients are now without financial support from government amid the pandemic that has left many South Africans financially affected. People who depended on the temporary SRD grant received their final payments last month.

Zulu has made it clear that she wants unemployed South Africans to be paid the Basic Income Grant. Current consultations are reportedly targeted at finding the funding for the BIG project.

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Source: Briefly News

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