SABCnews: Treasury announces a R36.1 billion Social Relief Fund
"If there is a will, we will find a way to find the money." – Isobel Frye, Director at the Studies in Poverty and inequality Institute.
National Treasury has allocated a total of R36 billion to fund all the latest social relief measures announced by government to deal with the impact of COVID-19 and the recent social unrest that engulfed parts of the country.
The move has received mixed reactions from labour unions, economists and civil society groups. Finance minister, Tito Mboweni also gave an update on the estimated cost of damages to properties from the recent riots that gripped parts of Gauteng and KwaZulu-Natal.
He says the South African Risk Insurance Association (SASRIA) may have to pay between R15 billion to R20 billion in claims. To get more analysis on what was announced by the Minister of Finance, we are joined by Ndumiso Hadebe, Economist at KH Research Equity Partners and Isobel Frye, Director of Studies in Poverty and Inequality Institute.
For the Media statement released by Finance Minister Tito Mboweni, click here: MEDIA STATEMENT BY THE MINISTER OF FINANCE MR TITO MBOWENI
Source: SABCnews, Morning Live