ANC Set to Introduce Dole in South Africa

The ANC is reportedly about to announce a R450 per month dole payment for unemployed South African youths. Initial estimates are that this will cost taxpayers R30 billion per year, and double the social grant bill. The total number of people who will now be dependent on the state will be nearly 18 million, almost half the population.

The dole is planned to be phased in over 7 to 14 years.

To raise some of the funds, the ANC has announced its new “resource rental tax” on mines. According to Fin24, this is effectively a windfall levy of 50% that will kick in after investors have made a “reasonable return”.

As miners and manufacturers move out of SA to avoid these thieving and redistributive policies of the ANC, there will be no production activities left in SA to sustain consumption. Prepare for rapidly declining living standards in SA.