‘Business-as-usual’ policies won’t save SA from poverty and inequality, warns FCC
SA’s "business-as-usual" policies and interventions will fail to achieve the poverty and inequality reduction targets set for 2030, the Financial and Fiscal Commission (FFC) warned on Monday. The FFC is a statutory body that advises Parliament and state organs on how revenues collected by national government should be allocated fairly and equitably among the three spheres of government. In May, the FFC tabled its annual submission for the division of revenue in Parliament. The commission’s chairman Prof Daniel Plaatjies told a news conference on the submission that there was an urgent need to understand the country’s economic challenges as well as how to address them. "The commission tables this submission against the backdrop of an austere economic environment. South Africa is required to balance ongoing efforts of fiscal consolidation against the need to address the significant revenue shortfall without stifling the county’s fragile growth recovery, or constraining the delivery of...
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