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BusinessLive reports that a crucial cabinet meeting on Wednesday to plan SA’s response to Covid-19 and the resulting economic crisis ended inconclusively with no decisions taken and all proposals put off.
The government's inaction comes as the economy buckles under the burden of the lockdown and social unrest and crime emerge in communities under stress. In a statement on Wednesday night, the cabinet said that it had received five presentations from the various government clusters on a recovery plan focusing on the country’s economic recovery as a consequence of the Covid-19 pandemic and the recent downgrading of SA by ratings agencies. The clusters have been asked to work together to produce one consolidated document for the next cabinet meeting due to take place on 20 April. Finance Minister Tito Mboweni apparently took two crucial proposals to the cabinet. His income support proposal, as endorsed by labour and organised business in various forms, included the topping up of social welfare grants by R500 for the next three months. His second proposal was for a loan guarantee backed by the Treasury to enable banks to extend new credit to firms. The cabinet also noted developments at SAA, which has been told that no more funding for the business-rescue process was available
- Read the full original of the report in the above regard by Carol Paton at BusinessLive
- Read too, Covid-19: Cabinet defers decision on economic crisis plan, at Independent News
Get other news reports at the SA Labour News home page