A budget to turn SA into an investment dust bowl
When we tax the key pillars of investment — capital formation and savings — it is the equivalent of eating the seeds you need to plant for growth
When President Cyril Ramaphosa's launched his drive to secure new investment in SA of R1.2-trillion it appeared that investment was rightly regarded as the best way to tackle the country’s most pressing economic and social challenge — the world’s worst unemployment problem.
So far the investment conferences have seen pledges of about half this amount, but will it make enough difference? Big companies starting big projects do bring big benefits, but the government itself needs to come to the party, creating the optimal conditions for companies big, small and embryonic to start new ventures...