The existing ideological opposition to the transfer of monopoly government industries and services to private ownership is most unfortunate. If the process does not occur, or is delayed, South African consumers will be the poorer.
Despite the fact that the Constitution is often heralded as one of the most liberal in the world, it has been applied and interpreted in profoundly illiberal ways.
Interventions such as the 2018 BBBEE Codes of Good Practice, thus cannot possibly achieve their objectives unless accompanied by related policies that result in high rates of economic growth which is (a) sustainable and (b) reaches most citizens.
Reducing or eliminating corporate tax would boost economic growth, increase South Africa’s competitiveness and attractiveness as an investment destination and raise future wages.
There is reason to be concerned at the intention to introduce a new and unavoidably destabilising carbon tax at a time when the economy is struggling to deal with the effects of a major worldwide economic slowdown.
