Emigration a red-flag for SA economy
The country has seen a sharp decline in the number of taxpayers earning R750,000 a year or more in the past two financial years
The emigration of SA’s skilled professionals is a major risk for job-creation efforts and the dwindling tax base and cannot be ignored by policymakers as the country battles the aftermath of Covid-19 and one of the highest unemployment rates in the world.
On Tuesday, Izak Smit, CEO of the Professional Provident Society (PPS), a mutual financial services provider that offers insurance and investment products to graduate professionals, red-flagged the exodus of SA’s most skilled workers, who not only provide tax revenues but support jobs across the economy. ..