South Africa needs National Health Insurance (NHI) but the cost is astronomical

…Perhaps there could be a reprioritisation of expenditure?...

Dr Thabi Leoka, economist - Argon Asset Management

Our tax base is not the same as in the UK. It raises questions about how much it will cost… if economic growth remains below 2%... the shortfall will be around R132 billion … That is quite negative… something rating agencies will look at… It is quite steep compared to other components of expenditure…

Dr Thabi Leoka, economist - Argon Asset Management

Cabinet approved the National Health Insurance Bill on Thursday.

It will soon be tabled in Parliament.

The NHI Bill is meant to realise universal health coverage in South Africa.

The Bill provides for the creation of the NHI Fund, which will report to the Health Minister.

If the Bill passes, Government will roll out NHI in phases.

The Democratic Alliance (DA) have indicated it will contest the Bill.

The DA supports universal healthcare but not the plan put forward by the ANC to achieve it.

…the establishment of yet another state-owned-enterprise which will open up the public purse to looting by the politically-connected few… the DA will propose a credible plan that will ensure that every South African has access to proper and quality public healthcare…

Siviwe Gwarube, Member of Parliament - Democratic Alliance

Arabile Gumede (in for The Money Show’s Bruce Whitfield) interviewed Dr Thabi Leoka, an economist at Argon Asset Management.

Listen to the interview in the audio below.

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