The wolves are at the door. If the ANC fails to take concrete steps to actively repair the rampant draining of resources over the past 10 years, the country will be plunged into financial darkness for generations to come
The budget deficit has grown to 6.2% of gross domestic product since February ;Tax collection is down by R53 billion; andWhile kudos can be offered to Mboweni for this stark assessment, the governing party and its alliance partners must ultimately take responsibility for their own damaging internal political dynamics that leave it in a parlous state of policy inertia.
Labour’s response to the push to unbundle and split Eskom into three separate business units offers a lens into the inability of the ANC to bring its alliance partner into the fold in any meaningful way. If it does unbundle, it is damned; if it does not, we will run out of money. There is no doubt, too, that the state’s massive wage bill needs to be trimmed. It is astounding that 29 000 state employees earn more than R1 million a year. The call for 30 000 civil servants to take voluntary severance or early retirement has drawn a poor response.
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