Government can’t do it alone

2008-08-04 00:00

Finance Minister Trevor Manuel went to the press last week and outlined many of the considerations he feels should be taken into account in respect of SA’s economic policy over the next five years. The world’s financial pundits have for many years acclaimed Manuel’s performance and control over the country’s finances.

Until a year ago, the British economy was being hailed as one of the world’s greatest, yet today it is imploding in all directions. This time, unlike with previous implosions, the reasons are not rooted in massive unemployment or high inflation levels, but something far more simple: government, business and, most importantly, the population, have spent money they haven’t earned. All parties have been creating ever-increasing debt levels.

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