18 Jul BSA – Daily Update 17 July 20
PROSPECTS FOR AN EXTENSION OF TERS BEYOND JUNE 2020
Though greatly delayed, we are pleased to be able to advise that Temporary Employer / Employee Relief Scheme (TERS) payments for June now appear to be flowing from the Unemployment Insurance Fund to employees or to employers to pass on to their employees. Business for South Africa (B4SA) representatives will continue to monitor the situation.
We are aware that this raises the question of whether there is any possibility of the TERS being extended beyond June.
It is of course still the case that a number of businesses are unable to continue to operate in full or in part and provide earnings to employees. In addition, there remain restrictions on the return to work of those with comorbidities.
For these reasons, the question of the extension of the TERS has been placed on the Nedlac agenda for further discussion.
We would like to caution that, due to State financial constraints, it cannot be assumed that these discussions will have a positive outcome or, if there is any extension, what the terms of any such extension would be.
We will keep you updated on developments.
BUSINESS FOR SOUTH AFRICA
Delivering an accelerated economic recovery strategy
Business for South Africa, the alliance of volunteer resources from across the South African business community, has launched its proposed Economic Recovery Strategy: “A New Inclusive Economic Future for South Africa”.
To access the full B4SA Accelerated Economic Recovery Strategy please go to: https://www.businessforsa.org/economic/economic-relief-measures/
The COVID-19 crisis represents an opportunity for all stakeholders to consider what is required for the country to move ahead successfully and with conviction. This will require ruthless prioritisation and difficult decisions. A new social and economic compact must be forged in parallel, and a cohesive plan will need to be jointly developed and implemented by government, business and other social partners. Committed leadership is needed to drive decisions to conclusion with speed.
The B4SA ACCELRATED ECONOMIC RECOVERY STRATEGY is being put forward as the basis for an intensive process of engagement, which we hope will lead to increased trust between societal stakeholders, and to a new form of partnership between government and business in pursuit of shared challenges.
To listen to the media webcast presentation, please go to