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Some Take Aways from the DA’s Coronacast

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DA Leader, John Steenhuisen and Geordin Hill-Lewis hosted a live Coronacast this afternoon

Of South Africa’s over 57 Million citizens, 17 Million of them are Grant Recipients. These grants in turn support an estimated 30 Million South Africans.

The DA suggests an additional R50 Billion in direct cash grant to the poorest of South Africans – this would mean an additional R1000.00 per grant recipient for three months.

What about Small Business:

The DA’s proposed R300 Billion global support package would include R50 Billion in direct business support. This would be in the form of low-interest loans to any business, repayment of which would only begin after 12 months.

UIF has a pot of cash money equal to approximately R120 Billion. UIF is now dealing with millions of claims as opposed to around 25 000 per annum pre-COVID-19. Hence the DA’s suggestion that SARS (as a better placed organisation) take over the administration of any relief.

Keep as many businesses as possible afloat for at least 3-4 months.

It is estimated that most small businesses only have cash reserves to support one month of employee payment.

This years budget already showed a R270 Billion deficit prior to COVID-19.

South Africa will have to borrow money to support the COVID-19 economic losses and stimulus.

R300 Billion is what SA has spent already on propping up State Owned Enterprises.

According to Geordin Hill-Lewis, DA Shadow Minister of Finance, cabinet are considering shutting down SAA.

South Africans need an across the board holiday on all bank debts.

Sin Tax Revenue will take a blow as the illegal industries mushroom – estimates are that government will lose tens of Billions in sin tax revenue.

DA believes it should be possible to open up alcohol and cigarette sales with certain safety measures in place.

We need sensible regulations that promote goodwill.

Small business owners questions will be answered on the Coronacast on Tuesday 21 April 2020 at 14h00.

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Alan Straton

Chief Cook, Bottle Washer and Broom Mechanic at MyPE
Passionate about Port Elizabeth and definitely NOT packing for Perth. Alan's ethos is epitomised in the words of Nelson Mandela; "I have fought against white domination and I have fought against black domination. I have cherished the idea of a democratic and free society. If need be, it is an ideal for which I am prepared to die." See more articles by Alan.