Treasury pulls already ragged red carpet from under investors’ feet with U-turn
Budget Review scuppers the government’s plan to attract foreign firms to new special economic zones with packages of incentives
On the eve of President Cyril Ramaphosa’s investment conference in November he attended the glitzy launch in Tshwane of a new automotive special economic zone (SEZ) that was developed next to the Ford vehicle factory. The event was another illustration of the government’s determination to raise $100bn in new investment over five years — and they are already comfortably ahead of target.
So, what went wrong in the budget in February? ..