Ways to stimulate growth without SA going into the red

THE ESTABLISHMENT of a special tribunal to fast-track the recovery of billions lost in shady state contracts, with personal accountability for looters, could certainly have come sooner for our vastly unequal society.

A belated commitment to rooting out corruption in all its manifestations across public life, the past few months have shown how some elected officials and the politically connected have for years used their positions to loot rather than uplift.

This has taken place against a fiscal backdrop where more than sufficient revenue has been allocated to address inequality, but a lack of accountability and deep-seated corruption mean that we have wasted the opportunity.

As gloomy as our current circumstances are, there are still ways to stimulate economic growth without pushing the country further into the red.

We now have to work harder, smarter, and together if we want to increase our levels of growth.

More importantly, we have no other option but to focus on inclusive growth that creates a virtuous circle which does not require vast capital injections that we simply do not have. In this respect the greatest driver of inclusive growth is entrepreneurship and we need to do everything we can to encourage entrepreneurs, grow small businesses and simplify job-seekers’ access to the workplace in every sector of the economy.