SA Thinks President Cyril Ramaphosa Is Behind the Basic Income Grant Leaked Reports
- The implementation of the Basic Income Grant continuous to be a hot debate with no final decision being made yet
- The Office of the Presidency stated after a report on the matter was leaked last week that President Cyril Ramaphosa is receiving multiple expert advice on the matter
- Unlike last week's leaked report, the new report has revealed that there is a group that has shown favour to the introduction of the grant
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JOHANNESBURG - Leaked report published over the weekend has revealed that the implementation of a basic income grant (BIG) is a contentious debate even for President Cyril Ramaphosa's advisers.
BIG has been a hot debate in recent months and the South African government still needs to make a decision on whether or not poor South Africans will be given assistance beyond the current social grant offerings.
Source: UGC
The second report comes after a report was leaked last week which warned Ramaphosa of the dangers of the implementation of BIG.
The report which was written by the President’s Economic Advisory Council (PEAC) stated that BIG could lead SA to financial instability, according to Fin24.
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The office of the Presidency has since criticised the leak and started that parts of the report that were leaked to the public were actually in fact selective. It turns, out that more than one report was prepared for Ramaphosa since there has not been a consensus on the implementation of BIG, according to TimesLIVE.
The presidency went on to say that Ramaphosa will review a number of different expert opinions on the matter before a final decision is made. Some advisers are against introducing a basic income grant while others are for it. A second leaked report on Sunday detailed why the other group of advisers is in favour of BIG.
Contrary to the first leaked report, the second report shines a positive light on BIG and even goes on to state that the implementation of the grant could help alleviate South Africa from its financial troubles.
It is still unclear when the final decision on the Basic Income Grant will be made but it does not seem like an announcement will be made at the State of the Nation Address scheduled for 10 February.
South Africans weigh in on the Basic Income Grant debate
Social media users have shared their thought on the introduction of BIG. There are some people who say the government should create more jobs instead of giving people money while others are completely in favour of the grant but do not think it is sustainable.
@DanielL50558375 said:
"Great idea, but not sustainable as the taxpayers would have to foot this and there are not enough taxpayers. Instead of giving the economy a boost to create jobs, to alleviate poverty, the govt wants to go the welfare route."
Some people raise suspicions about the second leaked report
@Constitution_94 said:
"The 2nd one is no longer a leak, it is a briefing note handed over to journalists and intended to counter the potential backlash from the first real leak."
Another repo rate hike on the cards, says SA Reserve Bank
In other business news, Briefly News previously reported that South Africans should make do with the Reserve Bank's decision to hike the repo rate by another 25 basis points to 4%, upping the prime lending rate to 7.5%.
Four out of five members of the central bank's monetary policy committee on Thursday voted for the increase, News24 reported. What does this signal for ordinary citizens, who will have to accept the hike as the lowest possible?
Well, for a new application on a home loan of R2 million at the prime rate, the monthly payment will increase by around R300 following the rate hike. Over a full calendar year, this translates to R3 600 more.
Source: Briefly News
