19:07 9 June 2024
South Africa Considers Universal Basic Income, A Potential Revolution
South Africa is considering implementing a universal basic income (UBI), potentially making it the first country to adopt this system nationwide. UBI would provide a fixed monthly payment to all adult citizens, regardless of their financial status. This proposal gained traction amid a political shift following the recent elections, which ended the African National Congress's (ANC) 30-year rule.
The idea is supported across the political spectrum, with parties like the Democratic Alliance backing it as a means to address extreme inequality and unemployment. Currently, South Africa's unemployment rate stands at 32.9 percent, and economic disparity is significant, with 0.1 percent of the population holding one-third of the nation's wealth.
Proponents believe UBI could alleviate poverty and stimulate economic activity. However, it has only been tested on small scales globally, such as in Ireland and Kenya, with positive but limited results.
(Interia)
