ISAAH MHLANGA: Big bills loom as the world slips into recession
Let's hope next week's medium-term budget rules out any form of fiscal adventurism
UK prime minister Liz Truss’s resignation just a few days after her finance minister, Kwasi Kwarteng, had vacated his position, should send a message to the Left that nice sounding unorthodox policy proposals are not necessarily practical and implementable. In the UK’s case they threatened to decimate people’s hard-earned pension funds, forcing the Bank of England to intervene.
It’s a pity Kwarteng did not tell his prime minister her plan was flawed. Fortunately, SA’s policymakers in Pretoria have been a last line of defence against such fiscal adventurism, and I hope next week’s medium-term budget policy statement affirms that. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.