LETTER: Creative solutions needed
Budget reductions imposed on government departments in the UK in 2010 had a devastating effect with limited achievements
30 August 2019 - 05:02
Like Sifiso Skenjana, I am concerned that the plan to achieve fiscal consolidation by means of crude budgetary cuts is misconceived (Fiscal Expansion, Not Austerity, is What SA’s Economy Needs (https://www.businesslive.co.za/bd/opinion/columnists/2019-08-28-sifiso-skenjana-fiscal-expansion-not-austerity-is-what-sas-economy-needs/), August 28).
In 2010 the UK government went the same route by initiating an austerity programme, with the same ambitious aim of cutting its budget deficit and reducing the national debt as a percentage of GDP...
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