LETTER: SA cannot tax itself into prosperity
The government must put the state over the party to resuscitate the economy
The National Treasury ought to be charting the course vis-à-vis SA’s economic strategies. Time is of the essence; there is no longer the luxury of having endless debates on race, or ideological disputes about economic policy. Urgent and rational steps based solely on logical reasoning must be taken to avoid an economic wasteland scenario.
Finance minister Tito Mboweni must be allowed to do what needs to be done to resuscitate the economy, ideology notwithstanding. Without wanting to get entangled in the internal strife of the governing party, the government must prioritise the state over the party and do what is within in its gamut to stave off further economic contraction.
The economy is in a precarious position and faces perplexing structural challenges that cannot possibly be addressed overnight. Expedient modus operandi that pave the way for greater sustainable models of growth should be the principal approach, which is easier said than done.
One thing is for certain though — we cannot tax our way into prosperity, especially given that the SA tax base has been decimated, shrinking significantly over the past decade.
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