Coronation Asset Managers co-founder has also appealed for meaningful reforms as Covid-19 deals additional damage to SA businesses
Pigeons outside a shop on Grant Avenue, in Norwood, Johannesburg. Police were still patrolling the streets of the inner city amid a nation wide lockdown. Picture: ALON SKUY
“We need to open the economy as soon as possible,” he said. “We are going to see lots of lives that will be lost, but I believe starvation, social unrest and crime, and a myriad other chronic diseases are going to damage the economy more,” Du Toit said. The government needed to stop funding loss-making government enterprises, said Du Toit, and cut the public sector wage bill and corporate taxes.
“The lockdown is causing severe damage to what is left of a fragile economy and our wellbeing, our livelihood depends on whether we can get the economy to recover,” said Du Toit.
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