The 2024 Appropriation Bill was passed by the National Assembly. It increases social payments by a significant R50 billion. The goal of this parliamentary action is to give the state money from the National Revenue Fund (NRF) to cover its costs for the 2024–25 fiscal year. Parliament went on to say that the bill takes care of present financial needs and sets rules for how to spend money that was taken out for the 2025–26 fiscal year before the new Appropriation Act starts, among other things.
The Appropriation Bill was first introduced by Finance Minister Enoch Godongwana when the 2024 Budget was announced in February. Also included with this bill were the Division of Revenue Bill, the Budget Review, the Second Adjustments Appropriation Bill for the 2023–24 financial year, the Gold and Foreign Exchange Contingency Reserves Accounts Defrayal Amendment Bill, the Estimates of National Expenditure, and the Revenue/Tax Proposals. These are all very important financial documents. Under section 10(1)(a) of the Money Bill and Related Matters Act of 2009, which was changed in 2018, these were brought forward.
Parliament Approved Additional Budget for SASSA through Appropriation Bill
| Fiscal Year | Social Transfers (R billion) | Additional Spending (R billion) | Total Appropriation (R trillion) | National Expenditure Estimate (R trillion) |
|---|---|---|---|---|
| 2023/24 | 283.4 | 0.0 | – | – |
| 2024/25 | 302.0 | 18.6 | 1.1 | 2.1 |
| 2025/26 | 321.2 | 19.2 | – | – |
| 2026/27 | 331.5 | 19.8 | – | 6.8 |
The 2024 Appropriation Bill was dropped after the last meeting of the National Assembly before the 2024 elections, even though it was still on the table. After that, on July 2, 2024, the National Assembly brought it back to life. Section 10(7) of the Money Bill and Related Matters Act says that Parliament has four months from the beginning of the fiscal year to work on the national budget after the Finance Minister presents it.
With the 2024 Appropriation Bill, the government hopes to find a good mix between growing the economy and cutting back on spending. The social wage includes programs for health, education, social security, community development, and jobs. It will get an average of 60.2% of all non-interest spending. It is expected that social benefits will go up a lot, from R283.4 billion in the fiscal year 2023–24 to R331.5 billion in the fiscal year 2026–27.
The bill was passed by the National Assembly without any changes. It will now go to the National Council of Provinces for approval.
Also read:-How to Change or Update SASSA Bank Account for SRD R370 Grant?
SASSA Basic Income Grant Coming?
Along with the financial measures, South Africa’s new Government of National Unity (GNU) is also working on a plan for a basic income grant. Even though President Cyril Ramaphosa said that creating jobs is the best way to fight poverty, the government has continued to help the jobless in many ways, such as through the Social Relief and Distress (SRD) grant. Millions of jobless people in South Africa have relied on this grant, which is about to become a basic income grant, for important financial help.
The ANC said before the election that they would finish a basic income grant in two years. Since the pandemic, the SRD grant has been extended several times. On April 1, it was raised by R20 to R370. In the budget for 2024, Finance Minister Godongwana said that the SRD would have temporary funds until March 2027.