Presenting to parliament on Tuesday , Treasury’s Ismail Momoniat explained that this type of recurring spending cannot be funded by borrowing money, but would have to be drawn from new revenues in the tax system.
“These include weakening of global or domestic economic growth, rising global borrowing costs, the possibility of higher public‐service wage costs, and the poor financial condition of several major state‐owned companies,” he said. “Given the significance of the cost of a universal BIG, alternative sources of taxation such as those mentioned above, should be assessed for viability in financing partially or wholly the implementation of a BIG,” Nedlac said.
Feels like I’m going to be a government employee and end up paying for the privilege
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