#Budget2019: Government allocates R567bn for social grant payments
CAPE TOWN – Finance Minister Tito Mboweni on Wednesday announced the allocation of R567 billion for social grant payments in the 2019 Budget Speech.
In his speech, Mboweni allocated funds for both social grants and housing grants.
According to Mboweni, the grant values will increase as follows:
- R80 increase for old age, disability, war veterans and care dependency grants.
- R40 increase for the foster care grant to R1 000.
- The child support grant will increase to R420 in April and to R430 in October.
Funding totalling R14.7 billion over the two past years has been reprioritised to two new conditional grants for informal settlements upgrading. This will enable these households to have access to basic amenities.
The Our Help to Buy subsidy helps first-time home buyers purchase a home.
As it is a pilot programme, the Our Help to Buy subsidy will receive R950 million over a three year period.
BUSINESS REPORT ONLINE