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SA contemplates financially supporting unemployed youth

 

 

Fifty-one percent of South Africans between 15 and 24 are unemployed, a SA Institute of Race Relations survey has found As South Africans seek to see what the newly selected top six African National Congress (ANC) officials will do differently, iANC is set to give grants for the unemployed youth that is estimated to cost R30bn a year.

 

If approved, 18 million of intsha yase South Africans izogay’wa ifinancial support. This may also mean that taxes will rise. R450 per month is the first proposal and has a benefit linked to incentive programmes. It is expected to cost 3.5% of gross domestic product and may double the state’s social grants expenditure.                                                                                               

                                                                                                                               

money.jpgAt present the child support grant costs R35bn a year and youth support will almost double this. The incentive to learn a skill or attend a programme is expected to cost R2bn per annum, the social assistance packages are estimated to cost R22bn per annum and administration costs could be R6bn a year News24 reported.

Fin24 reported that research by numerous agencies has found that you are most likely to be terminally unemployable if you don’t find a first job while young. An explainer from the social transformation commission, which sat on Wednesday, reads: “The central policy objective is to protect unemployed youth by preventing them from falling into destitution while promoting education and skills development, and developing labour activation programmes.”

Depending on the economic growth the financial support has been proposed to run over the next 14 years.

 

 

 

By Ancillar Mangena 

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