In my pre-budget comments for Business Day, I argued that for SA to escape its debt and the slow growth trap, it would have to ensure that government spending and revenues grew no faster than the real economy. I wondered whether the next SA government would be able to grasp this nettle.

The short post-budget answer is that this government has delivered a budget that takes fiscal policy on a quite different and very necessary path, for all the good reasons that were made clear in the Budget Review...

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