COSATU welcomes the increase in the SRD grant from 1 April 2024 by government

14 March 2024

The Congress of South African Trade Unions (COSATU) welcomes the positive increase in the Social Relief of Distress (SRD) Grant from 1 April 2024 by Government.  The announcement by the Minister for Finance, Mr. Enoch Godongwana, at Parliament will provide relief to 8 million persons receiving the SRD Grant.

Whilst COSATU had hoped such adjustments would have been made earlier and consistently with each Budget cycle, we nonetheless appreciate this increase by Government, in particular due to impact the rising cost of living has upon working class communities.

The SRD Grant with all of its challenges, has been an invaluable poverty alleviation intervention by President Cyril Ramaphosa’s administration and enabled millions of recipients to put food on the table.  We are heartened by the commitment by the African National Congress led government that it will be transformed into the long sought basic income grant.  

Government must be credited for allocating 60% of the Budget to the social wage and investments in working class communities.  These are critical towards ensuring that no one is left behind and there is a measure of stability and social cohesion as the blockages to growing the economy are resolved. 

Equally important is a discussion about how to not only remove the obstacles hindering economic growth and job creation but also about what investments and support are needed to grow the industrial, manufacturing and other critical export and productive sectors of the economy.  Ultimately, we need to reverse the current ratio of persons employed to those whose sole source of income is social relief from the state.  This should include linking SRD Grant recipients to skills and employment opportunities to help them gain the skills and experience necessary to find long term employment.

Issued by Matthew Parks, Acting National Spokesperson, COSATU, 14 March 2024