We need to provide hope

At the start of this year, our most pressing demand of the state was that it rein in its widening budget deficit and cut expenditure by having a real conversation with its employees and labour unions about wage growth that has been higher than the private sector over much of the past decade.

Actually, not all government debt is bad

While finance minister Tito Mboweni’s address was welcomed by markets, on the whole it failed to breathe any new confidence into our growth prospects. This is understandable given the very limited fiscal space the Treasury has to stimulate an economy that has been on its knees for the better part of the past five years.

BLSA comment on the supplementary budget

BLSA congratulates finance minister Tito Mboweni for tackling the key question facing the nation’s finances: will we continue a decline or start a process of renewal? The minister’s warning was clear – if we continue as we have, we will end up in a debt crisis that will see us lose our sovereignty to our lenders.