In recent years, the SA economy has decoupled from an accelerating global growth trajectory. Indeed, the most synchronised global growth recovery since 2010 has, on its own, been unable to boost local growth rates, which have fallen as global rates have risen. Consumer and business confidence are at their lowest since 1994 due to an uncertain political and policy environment, coupled with revelations that corruption is rife and corporate governance largely absent in sections of society. This has had a negative effect on consumer spending and business investment. The onus is now on SA’s politicians and policy makers to address the trust deficit in society and improve confidence so the journey to a more prosperous future for all can commence. The 2018 budget builds on the positive political seeds sown in December with the election of a new ANC leadership and this leadership’s subsequent encouraging policy pronouncements. These have enhanced the prospects for structural policy reforms....
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