Treasury warns cost of grant could rise to R130bn by 2030
Estimate contained in a presentation by the Treasury to the presidency ahead of medium-term budget policy statement
17 September 2023 - 20:16
The amount required to increase the R350 social relief of distress (SRD) grant could reach R130bn per annum by 2030 should the monetary value of the grant be gradually adjusted closer to the food poverty line, according to the Treasury.
The Treasury’s projection of R130bn a year by 2030 is based on an estimate of a gradual increase to R700 per SRD grant recipient over the next seven years. Should the grant’s monetary value be increased to R480 by 2023, it would cost the state R89bn, while it will cost the state R65bn should the monetary value remain the same within the next seven years. ..
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