There are perfectly valid reasons why the government of national unity (GNU) is not, and not likely ever to, grow the economy, investment and employment (“Nice words ‘inclusive growth’, but where’s the growth?”, May 8).
First, the DA is nowhere near having any power over the levers that effect the economy. The economic cluster is all still firmly under ANC control, and its answer to SA’s economic decline is to double down on BEE, racial quotas and giving away free money to connected cadres. So we can all blame the GNU for not following a growth strategy, but it’s the ANC that is firmly committed to the economic status quo.
Second, there is no doubt in my mind that down the road there is going to be a governing black nationalist coalition, without the DA involved at all. It is almost inevitable — it will be a true miracle if we escape this in the next five to 10 years.
Any advance (not yet evident) in sensible economy policy will then very quickly be rolled back. Time will tell. I believe only a huge external intervention, or the money finally running out, will result in real economic reform — or utter chaos will reign.
Ian Ferguson
Via BusinessLIVE
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