The ANC has imposed regulations across the economy that have steadily discouraged capital formation and job creation, just as the national democratic revolution has always demanded.
Two of the biggest threats to growth are the basic income grant and National Health Insurance; neither will reform or alleviate the myriad government-imposed barriers in either the world of work, or in health care. More interventionism and bureaucracy cannot repair the damage that interventionism and bureaucracy have already wrought.
Localisation stands as a big threat to citizens’ access to cheaper goods — this will be felt especially harshly by poorer people. Further, the ruling party appears committed to undermining property rights through expropriation without compensation. Never mind killing the golden goose — if SA goes down this road, very few if any of that endangered species will be spotted here in the future.
Rising fuel prices — caused partly by international oil concerns, but mostly due to the many taxes and levies collected as part of the price — and mounting inflation will press down on the middle class throughout this year. There is nothing radical or"developmental" — in the positive sense — about greater state control over the economy and society, because low growth and unemployment necessarily follow.The FM welcomes concise letters from readers. They can be sent to
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