Free tertiary education for all no benefit to poor people - Davis Tax Committee

FILE: #FeesMustFall demonstrators protest outside the University of Pretoria during protests over tertiary education fees in Pretoria on 10 October 2016. Picture: EWN

It would add an extra R30 billion or R35 billion in increased interest costs.

Judge Dennis Davis

That is more what I fear… If they [Government after ANC’s elective conference in December] decide to go on a spending spree when we don’t have the money to do so…

Thabi Leoka, Argon Asset Management

Government could, at most, wring R15 billion more out of taxpayers to pay for the tertiary education of promising students from the poorest families.

However, finding the extra R60 billion to R90 billion to offer everyone free education is impossible.

So said the Davis Tax Committee in its report on Monday.

The Committee suggests that, whatever extra funds are raised, should be ring-fenced for higher education and allocated in an explicitly pro-poor fashion.

It warns against a blanket “no-fee” policy which, it says, is not feasible and “cannot possibly be pro-poor in South Africa.”

The Money Show’s Bruce Whitfield interviewed Judge Dennis Davis, Chair at The Davis Tax Committee, and Argon Asset Management Senior Economist Thabi Leoka.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

This report was generated more than a year ago... it just collected dust… this Minister said it must be out in the public domain…

Judge Dennis Davis

The document still makes a significant contribution…

Judge Dennis Davis

He [Malusi Gigaba] has inherited a massive problem.

Judge Dennis Davis

I woke up very depressed, and I don’t think the day will end with many cheers from my side.

Thabi Leoka, Argon Asset Management

Click here (then “like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter


Recommended

by THE NEWSROOM

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
Economic researcher slams anti-poor VAT hike

Economic researcher slams anti-poor VAT hike

The Money Show’s Bruce Whitfield interviews Wits economic researcher Gilad Isaacs.

Anglo American profits soar. Pays highest dividend in a decade

Anglo American profits soar. Pays highest dividend in a decade

The Money Show’s Bruce Whitfield interviews Anglo American CEO Mark Cutifani.

Woolworths, pummelled in Australia, loses R4.86 billion

Woolworths, pummelled in Australia, loses R4.86 billion

The Money Show’s Bruce Whitfield interviews Woolworths CEO Ian Moir.

How to capitalise on an environment that has suddenly turned for the better

How to capitalise on an environment that has suddenly turned for the better

The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator’s Pavlo Phitidis.

How to plan financially, considering you’re poorer after Gigaba's hectic Budget

How to plan financially, considering you’re poorer after Gigaba's hectic Budget

The Money Show’s Bruce Whitfield interviews Galileo Capital Financial Advisor Warren Ingram.

'Budget is excellent under the circumstances. I give it 9 out of 10'

'Budget is excellent under the circumstances. I give it 9 out of 10'

The Money Show’s Bruce Whitfield interviews Investec Asset Management Economist Nazmeera Moola.

Popular articles
I was not introduced to Ajay Gupta - Grootes

I was not introduced to Ajay Gupta - Grootes

Stephen Grootes says he believes former Eskom CEO Brian Dames when said he was not formally introduced to the Gupta family.

Minister Zwane confirms trips to Dubai and Switzerland

Minister Zwane confirms trips to Dubai and Switzerland

EWN parliamentary correspondent Gaye Davis says Mineral Resources Minister Mosebenzi Zwane received detailed and tough questions.

Zweli Mkhize 'taken by surprise' with latest cabinet reshuffle

Zweli Mkhize 'taken by surprise' with latest cabinet reshuffle

The ANC treasurer-general confirmed Mantashe’s comments that the President did not consult the ANC leadership on the reshuffle.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

How to make your first million

How to make your first million

Warren Ingram discusses his new book in which he shares practical ways for ordinary people to achieve financial freedom.

'Collect experiences, NOT possessions!' - Paul Theron (Vestact MD)

'Collect experiences, NOT possessions!' - Paul Theron (Vestact MD)

Bruce Whitfield interviews the razor-sharp tongued Vestact MD Paul Theron about his money hopes, fears, successes, failures, etc.

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...

Meet Errol Musk - father of Elon, the most innovative entrepreneur of our age

Meet Errol Musk - father of Elon, the most innovative entrepreneur of our age

Elon Musk, as you’d expect, hails from an exceptional family. Bruce Whitfield interviews his Capetonian father.