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.