Opinion: Finance Minister and President have no concern for the economy

A survey by the Institute of Race Relations (IRR) has found that more people are receiving social grants.

The latest South Africa Survey published this week, reveals that in 2001 there were 12 494 000 people in employment and 3 993 133 people receiving social grants.

In a statement the organization says as the economy slows, the government will find it harder to expand the roll out of grants, or to increase their value.

IRR analyst Gerbrandt van Heerden said: “The numbers are a recipe for social and political chaos. With South Africa formally in recession,the government will find it difficult to afford the cost of its social grants programme. As the economy stagnates,and tax revenue slows, demand for more grants will increase. The government will then have to cut other areas of expenditure in order to meet popular demands for more and higher grants. We predict that this will lead to much higher levels of violent protest action.”

702's Xolani Gwala gives his take on the matter.

Here is the recipe of untold social unrest, just last week I think it was the Finance Minister who says there is obviously a need for Treasury now to revise downward GDP expectations for this year, so the economy is not going anywhere.

Xolani Gwala, 702 Breakfast Show anchor

The biggest problem is that we are not hearing any plans coming from government, the biggest problem is that whether you are talking about the Finance Minister or the President, they are both fighting for their political careers. They absolutely ave no concern about getting this country out of this political situation.

Xolani Gwala, 702 Breakfast Show anchor

Click on the link below to listen to the full audio....


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
'Irregular expenditure by Government robs social grant recipients of R233/month'

'Irregular expenditure by Government robs social grant recipients of R233/month'

Government’s irregular spending is robbing the poorest South Africans of R233 each and every month, says KPMG’s Deborah Tickle.

"SA growth forecast keeps lowering because we're an export dependent economy"

"SA growth forecast keeps lowering because we're an export dependent economy"

Nedbank economist Isaac Mathekgo says unemployment must be fixed to help boost SA economy and busines and govt must work together.

Corruption Watch to launch court bid for Net1 to return R1 billion profit

Corruption Watch to launch court bid for Net1 to return R1 billion profit

Corruption Watch head David Lewis says the profits made from the social grants contract are technically illegal.

Why unemployment is escalating

Why unemployment is escalating

According to Stats SA the figures are the highest since September 2003.

EXCLUSIVE: Zane Dangor explains how social grants crisis was "self-created"

EXCLUSIVE: Zane Dangor explains how social grants crisis was "self-created"

The former Social Development director general explains a timeline of events which led to CPS contract with Sassa being extended.

Popular articles
Are you ready to 'Walk the Talk' with 702 & MTN?

Are you ready to 'Walk the Talk' with 702 & MTN?

The annual MTN Walk the Talk with 702 takes place on 22 July this year, under the theme 'Walking for South Africa'.

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

How to make money through ‘buy-to-let’ (using very little of your own money)

How to make money through ‘buy-to-let’ (using very little of your own money)

Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".

'More black farm workers are killed than white farm workers'  - Johan Burger

'More black farm workers are killed than white farm workers'  - Johan Burger

Following a spate of farm murders in the Cape, the policing expert says there aren't enough stats available on farm killings.

Soulful Sundays Playlist: Sunday 11 June 2017

Soulful Sundays Playlist: Sunday 11 June 2017

Favourites to feed your soul on Sunday.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?