THE OTHER CLIMATE CHANGE
Cut, cut, cut and cut again. The scissors are being taken to costs and capital expenditure is largely out of sight and out of mind. What a pity it all happens together and steady state goes out of the window. In theory, business should be spending when the government is pulling in its horns and government should be spending when the private sector is not. But it remains a theory alone and never happens in practice. The upshot is that the South African economy is the other climate change – one that is bad for business.
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