Covid-19 Business Watch
WATCH: A year of Covid-19
Michael Avery talks to a panel about the impact the pandemic has had on markets and the fiscus over the past 12 months
In the past 12 months we’ve seen the public-sector wage bill balloon to 47% of government revenue, and in the recent budget, the finance minister took the bold but necessary decision to stick to his guns on public-sector wages.
This week, the public-sector unions showed him and the country the middle finger with a proposal of consumer price index (CPI) plus 4%, ahead of next week’s GDP report, which is expected to show a decline of 7%, the largest drop in output since World War 2. And in all of this, the vaccination strategy is paramount. Under the current rollout strategy, in which about 6,000 people a day are receiving vaccines, it would take 20 years to vaccinate the whole country. ..
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