Eliminate waste, lower taxes if possible, print money — and don’t become Zimbabwe, writes Quentin Wray
24 June 2020 - 05:00The hangover from the Covid-19 spending splurge is going to make the effects of the global financial crash in 2008 seem like a cheeky lunchtime drink. It’s time to start sobering up.
However, even though the response to Covid-19 was the same, albeit on a larger scale, as the response to the credit crunch, their roadmap to rebuilding their economies must be markedly different. There will be people who argue for austerity as they will see it as the only way to limit tax increases. This just shows not only a disturbing lack of imagination but also a frightening lack of empathy.
But while their citizens, who have, on the whole, had it very good for a long time, are going to be hammered by the impact of the virus, their governments generally have the wherewithal to make some sort of a plan to ensure there is not starvation on the streets, even in the face of massively rising unemployment.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SA hits 101,000 Covid-19 cases as deaths approach 2,000South Africa passed another grim Covid-19 milestone on Monday, as it surpassed the 100,000 mark for confirmed infections. This is less than three months since the first recorded death.
Read more »
SA hits 101,000 Covid-19 cases as deaths approach 2,000South Africa passed another grim Covid-19 milestone on Monday, as it surpassed the 100,000 mark for confirmed infections. This is less than three months since the first recorded death.
Read more »
Lesotho records seven SA-linked Covid-19 casesLesotho has recorded eight new cases of Covid-19, the highest number reported by the small mountain kingdom to date.
Read more »