Why not use UIF surplus to fund state programmes, Jonathan Heher asks
On Friday, chairperson of the university fees commission Judge Jonathan Heher rhetorically asked why the government was not tapping into large sources of cash such as the Unemployment Insurance Fund (UIF), to pay for government programmes. Heher told Finance Minister Pravin Gordhan‚ who was making his submission in Pretoria on Friday‚ that in the next 10 years, the UIF would have accumulated a surplus of R296bn. By June 2016‚ it had a surplus of R126bn which Heher said could be used for higher education instead of lying dormant. "In our minds‚ that is government money wasted‚ simply allowed to lie in the hands of one group of people to do what they like with it‚" he said. Gordhan said the ministry was not aware of this evidence and asked the commission to provide it to the Treasury so that it could be evaluated and assessed. Asked to elaborate on his response after his submission‚ Gordhan said some of these types of funds were contributions by employees and employers, and were not p...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.