A BIG deal: Universal income support could resuscitate South Africa’s economy — report

The release of the report comes off the back of growing calls to implement a basic income grant, especially as South Africa’s unemployment crisis continues to deepen. In the third quarter of 2021, the unemployment rate rose tois expected to make a call on whether a basic income grant is feasible when he delivers his maiden budget speech next month.

to 2025 ranges from 2.8% to 2.9% of nominal GDP. This increases to 9.7% to 10.4% of nominal GDP over the projection period if a universal basic income grant is introduced at the upper-bound poverty line, which at the time the report was written was R1 268. The R350 grant, the report notes, has the potential to reduce the concentration of income of the top 10% to 49.9% in 2019/2020 on an income per capita basis to just below 47.1% by 2024/2025. The share of household income per capita as a percentage of the total in the lowest income decile is projected to increase from 0.8% in 2019/2020 to 7.0% by 2024/2025.

If corporate income tax includes taxing these mushrooming trust funds and offshore companies' shareholding proceeds,then it must get my go-haed. The Pandora Papers holders must be taken up by the ICC because of their denying the poor access to world's resources!

Tragic!

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