Of most relevance for the economic outlook was the ANC’s view of a ‘clear need for some form of income support for unemployed and poor South Africans’, the Bureau for Economic Research said in a research note on Monday .
“This supports our baseline view that the R350 per month social relief of distress grant will be extended beyond March 2022 when it is set to end,” the group said.Social development minister Lindiwe Zulu has indicated that a new basic income grant in South Africa will likely be phased in over several years, with her department currently pushing for an extension of the R350 Social Relief of Distress grant as a baseline.
The social development minister said she is of the view that the R350 SRD grant will provide a basis to introduce the Basic Income Grant, but that an amendment of existing legislation is required to formally introduce the new scheme. “Depending on costs and the fiscal position of the country, it may take a few years to progressively implement. Until then, the department is, however, currently motivating for the extension of the Special Covid-19 SRD Grant, preferably over the medium-term period,” she said.
Our second task is to mobilise social partners to urgently finalise a social compact to reduce unemployment, poverty and inequality.
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