Finance Minister Nhlanhla Nene, in his inaugural budget speech, offers this piece of wisdom, “The challenge of governance is to choose wisely between competing alternatives.” This takeaway statement is as true of Minister Nene’s inaugural budget speech, as it is…
Have we reached the end of the road for redistribution in South Africa? Recent publications by the World Bank and the South African Communist Party (SACP) suggest that the time for redistribution may well be over. The oddness of the…
How do we measure the performance of the South African budget? The message from Finance Minister Nhlanhla Nene’s inaugural Medium-Term Budget Policy Statement suggests dual objectives. Minister Nene has cut the expenditure ceiling and capped spending on items such as…
Presidents’ relish shorthand descriptions of the agenda they are implementing. In Jacob Zuma’s first term of office, the term “faster change” played that role. Bureaucrats and politicians quickly took up this term not merely to demonstrate loyalty to a newly…
The African National Congress has recently launched its Imvuselelo (Revival) Campaign. At the launch, President Jacob Zuma indicated it means a “back to basics campaign”. The campaign aims to reconnect with voters and drive membership. The campaign requires new members to…
South Africans of all stripes often lament the general lack of entrepreneurial success and limited support for its development in the country. So when President Jacob Zuma created a new small business ministry, the Department of Small Business Development (DSBD),…
“A rising tide lifts all boats.” This aphorism means that in a growing economy everyone benefits, and by extension that government’s role is to focus on the macroeconomic environment. Moreover, it suggests that distributional changes occur after economic growth. In…
A curious debate between agency and structure has unfolded in South Africa in relation to “small business” over the last two decades. On the one hand, the celebration of successful entrepreneurs as exceptional individuals has led to an explosion of…
Common sense suggests that budgets follow plans, not the other way around. Beyond the headline results of the budget, a closer look at the finance minister’s 2014 budget reveals significant contradictions and suggests a disconnect concerning the relationship between plans…