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LOOK: Ramaphosa's R500 billion breakdown

Published Apr 22, 2020

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CAPE TOWN- President Cyril Ramaphosa announced on Tuesday evening that a massive support package of R500 billion will be channelled into healthcare, vital municipal services and social relief.

Here's the complete breakdown of where the funds will be located to.

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-

R20 billion

funds the

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health response to Covid-19. It will include supplying personal protective equipment for health workers, community screenings, increased testing capacity, additional beds in field hospitals, ventilators, medicine and staffing.

-

R20 billion

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goes towards

municipalities to provide emergency water supply, increased sanitisation of public transport and facilities as well as food and shelter for the homeless.

-

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R50 billion

funds

new grants

and social relief for the most vulnerable families. A temporary six-month coronavirus grant and special Covid-19 social relief of distress grant will be available.

-

R100 billion

goes towards

protecting and

creating new jobs.

-

R40 billion

for income support payments for

workers where employers are unable to pay wages.

-

R2 billion

to assist Small Medium and Micro Enterprises (

SMME), spaza shop owners and other small businesses.

-

R200 billion

goes towards

loan guarantee schemes in partnership with major

banks, the National Treasury and the SA Reserve Bank to cover companies with operational costs (salaries, rent and payment of suppliers).

-

R70 billion

in

tax

relief schemes for distressed businesses.

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Related Topics:

Covid-19

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