Joburg on a path of fiscal consolidation
City can see the impoverishment and stagnation elsewhere caused by lavish spending and mismanagement
A few months ago, electorates in the metropolitan region of the City of Johannesburg voted to usher in change, expecting the new administration to set in motion public policies that significantly improve their lives. The electoral outcome was a discernible rejection of the malaise and maladministration that were destroying our communities and an expression of voters’ hope that reforms will secure their wellbeing and that of the country. We listened to our people and have crafted a responsive public policy framework. Its public finance foundation is premised on prudence, fiscal discipline and proactive policy implementation fervour. These are financial management policy properties that converge to grow the economy and I call this approach symmetric public finance philosophy. In this devotion to astute public finance management, I am not alone. The great public finance philosopher and practitioner of old, Alexander Hamilton, emphasised the role of fiscal prudence as the cornerstone of...
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