Would one of our economic gurus please explain to me how we are ever (repeat ever) going to see economic growth again in SA? In February our new finance minister, having been given a hospital pass by the ANC wrecking ball, mugged already groggy consumers with his zero growth budget containing a bag full of increased taxes and levies as well as a disguised income tax increase. This was followed by a really economically backward energy regulator granting our failed government employment arm, Eskom, massive increases.
One fuel price increase has followed another, a large portion of which has financed government wastage and theft. With the exception of DA-run municipalities, inept and dishonest ANC local government cadres, with their 30% pass marks, have jumped onto the bandwagon and hit consumers with huge service increases to finance their luxurious lifestyles, accompanied by the now compulsory looting.
With blue-light brigades flying past burning schools, libraries, trucks and trains, our massively incompetent cabinet thinks it can print money to pay off our debt, while the president tells the world we are open for business, the country is safe, there are no farm murders, expropriation with compensation is our policy, and we have the know-how in our compromised cabinet to turn around the calamitous state-owned enterprises. He then rushes back into hiding from his colleagues, the unions and the EFF.
Foreigners take their money elsewhere and our professionals are rushing for the exits in their thousands, taking with them their money, skills and taxes. The penny hasn’t yet dropped in our goofy parliament — you actually need workable, proven, realistic and internationally acceptable and encouraging policies executed by capable and skilled people, irrespective of their background.
The ANC comrades are stuck in a time warp. They didn’t understand this in the old Soviet Union, North Korea, Zimbabwe, Cuba and Venezuela, and they all failed. SA is now on the same track.