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Genesis 1, 28 says that we should "go forth and multiply, and replenish the earth." Not all Bibles have this "replenish the e...

Friday, December 1, 2017

Play the cards right - David Lipschitz's Letter in the Cape Times on 1st December 2017

Much is being written about Eskom's failure and the reasons for it.

It is sobering to think that when Medupi coal power station was originally budgeted, it was forecasted to be complete by November 2015, and Kusile by April 2017. If this 9.6 GW was already on the grid, the fiscus would be earning R286 billion more per annum and another two million people would be employed. Instead of being "R50 billion under budget", as Minister Malusi Gigaba recently said, we would be R300 bn over-budget.

It is time for people to realise that you can tax the input side of the economy as much as you like, but it is the output side of the economy that will make you orders of magnitude more money in income, and also in savings due to not having to pay out so much unemployment benefit.

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