The medium-term budget policy statement (MTBPS) delivered by the finance minister is more interesting for what he did not say than what he did.

A vague commitment to “structural reform” is much like the swallow that does not a summer make. Arguably the most urgently needed structural reform is in the limping criminal justice administration. The failure to end the culture of corruption with impunity that marked the Zuma years (and is evident from the “covidpreneur” phenomenon this year) is a major cause of the lack of business confidence that stifles much needed growth...

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