The South African government will consider a proposal for a\u00a0one-off\u00a0wealth tax during an economic recovery planning meeting on Monday, according to a report in Rapport.<\/p>\n
Such a tax could assist Africa\u2019s most industrialized economy as it bounces back from the coronavirus outbreak and a five-week lockdown that is scheduled to be lifted on 30 April.<\/p>\n
The proposal comes from a group of economists, led by former South African National Treasury budget chief Michael Sachs, the local newspaper reported, citing a plan that was presented to the cabinet last week.<\/p>\n
A number of South Africa\u2019s richest citizens, such as Johann Rupert, Patrice Motsepe and Nicky Oppenheimer have already committed large sums to help the country\u2019s government during the crisis.<\/p>\n
Many executives across the country have also donated one-third of their salaries to the cause.<\/p>\n
South Africa plans to slowly reopen parts of the economy, restarting about 50% of its mining production in coming days. It has had more than 3,000 coronavirus infections, with 52 deaths, since its first reported case on 5 March.<\/p>\n