EDITORIAL: Lindiwe Zulu’s universal income grant is noble, but unaffordable
The Treasury is already facing a shortfall of about R300bn
Few people dispute that putting the economy back on a robust growth path, accompanied by labour policy that encourages companies to hire, is our best bet in getting millions of South Africans out of poverty, and working.
With the economy having barely grown in the past decade, more than 10-million people have been left scrambling for survival income. With the Covid-19 economic destruction set to crush output by double digits, some economists are predicting large-scale retrenchments that will push the unemployment rate to as high as 50%, which would be catastrophic. The 29% we entered the crisis with was disastrous enough...
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