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. ..
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