DENNIS DAVIS: Why a wealth tax won’t work
Right now, there’s little scope to implement new taxes, including a wealth tax. Instead, we need to focus on policies that will answer SA’s deepest questions
04 June 2020 - 05:00
No economy, whatever its growth path before Covid-19, is immune to the pandemic. But sadly not all economies are equal.
SA did not enter Covid 19 in robust economic health. The government’s own predictions luminously illustrated that the economy was already in the casualty ward. The 2020 budget (now irrelevant) predicted GDP growth of 0.9%, 1.3% and 1.6% over the next three fiscal years. Given an unemployment rate of 29% at the time, and with the government clueless as to how to accelerate growth, these figures painted a bleak future...
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