Will Mboweni manage to cut the wage bill and build an investment friendly environment?
A couple of positives are closing the curtain on endless SOE bailouts and the move to zero-based budgeting
In a time of crisis, such as the Covid-19 pandemic we are facing, in which growth has all but collapsed leading to huge job losses and lower tax revenues, budget speeches can be Rubicon-esque in importance. They can provide an administration with a chance to reset, chart a new path for economic prosperity, and lift the spirit of the nation.
Yet in SA, where crises have almost become commonplace, budget speeches tend to be predictable and uninspiring, not least because implementation is always lacking. The speeches are more or less a game of numbers, without the finer details about implementing crucial reforms necessary to fire up the economy. ..
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