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Thursday, 11 October, 2018
Quote of the week
"The fourth industrial revolution can also reproduce and cement existing inequality. All initiatives to ensure that South Africa benefits from this “great transformation” should not further marginalise those already at the periphery. These include young people without access to good quality education, jobless youth who are inadequately prepared for the labour market and children who learn under the most dehumanising conditions. The fourth industrial revolution has to empower them and also uplift them from their current situations. "
- Hamadziripi Tamukamoyo heads the Youth Development Institute of South Africa
Comment of the week
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MBOWENI, SA ECONOMY, WORLD AGAINST ALCOHOL..
“As a former labour minister, he will understand that addressing the challenges of unemployment, poverty, and inequality, is as important as maintaining fiscal discipline and the stability of the financial system,” Cas Coovadia
Nine years after leaving his post as governor of the South African Reserve Bank, Tito Mboweni is has been appointed as the nation’s finance minister and faces the unenviable task of reviving an economy that is mired in recession. He will have limited room to maneuver.
With government debt at already dangerously high levels and the country at risk of losing its sole remaining investment-grade credit rating from Moody’s Investors Service, Mboweni will have little option but to stick to the National Treasury’s expenditure ceilings and deficit-reduction targets. His ability to stimulate growth through increased spending or tax breaks will also be curtailed.
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There is trouble brewing. And if countries across the world don't increase taxes, restrict advertising and regulate the age of buyers as well as the times when and places where people can buy alcohol, they will continue suffering a bitter population-threatening hangover from the consequences of harmful alcohol use.
This is according to a new report by global health and development organisations titled Trouble Brewing: Making the Case for Alcohol Policy, which asserts that unless alcohol policy is given more attention, the harmful use of alcohol and its consequences will grow.
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