Tag: Basic Income Grant (BIG)
Budget 2024 avoids direct tax increases
Minister of Finance Enoch Godongwana delivered his Budget Speech 2024 to Parliament and the nation on 21 February 2024. A key announcement was that tax rates will not be increased in 2024/2025, as previously signalled by the Medium-Term Budget Policy Statement (MTBPS) 2023, to generate the extra R15 billion needed in revenue.
All taxes are wealth taxes – Wealth Tax & Basic Income...
All taxes are wealth taxes. All taxes imply the transfer of wealth from the individual owner to a government agency. The only difference between taxes is the tax base or event upon which the tax is levied, and the difference between the total burden borne by the taxpayers and the amount of revenue actually received by the government.
Private, community-driven initiatives best route to combat SA’s ills
As South Africans continue to suffer from numerous government failures, there is a small ray of hope emerging. The private sector is stepping up to do the job where they are allowed to do so. This is exemplified in three stories that came out in the first two weeks of June.
BIG funding – what’s the plan when SA can’t afford any...
When it comes to funding the basic income grant (BIG), I caution against putting further financial pressure on tax-paying citizens and the private sector. The BIG is the big issue on the table this year, as Finance Minister Enoch Godongwana prepares his inaugural Budget Speech.
SONA puts private sector at centre of economic recovery
During the years of Cyril Ramaphosa’s presidency South Africans have understandably become a tad cynical when his annual State of the Nation (SONA) takes place. Typically filled with big promises, his presidency is likely to be remembered for under-delivery.
Why economic freedom matters
Economic freedom enshrines personal choice, voluntary exchange and protection of private property. It is the freedom to start a business or hire an employee without government interference, or to invest and trade with whomever you please.
The basic income grant (BIG) – an analysis
The proposal for a universal basic income grant (BIG) has been on the table for almost 20 years. It was first recommended by the Committee of Inquiry (Taylor Committee) into a Comprehensive System of Social Security for South Africa in 2002, after a number of civil society organisations had petitioned for it on account of persistent poverty and structural inequality.
The real impact of the crisis on SA’s economy
As calm steadily returns after the recent social unrest, analysts are hard at work tallying the cost of the looting and disruption to economic activity. So far, the damage to 2021 growth is estimated at between 0.5 and 1.0 percentage points.
