n Without Prejudice - A solution when insolvency looms : money
|Article Title||A solution when insolvency looms : money|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Jul 2009|
|Pages||34 - 35|
Madam Speaker, while many countries are borrowing heavily to finance their bailouts and deficits, which may well be the correct policy approach to restore confidence in their economies, this build up of debt will have to be paid back, with interest, by future generations. It will require higher tax rates in future, slowing growth for decades to come. The re-evaluation of the world cannot be indefinitely deferred..." (Extract from the Budget Speech of Mr. Trevor A Manuel, Minister of Finance of the Republic of South Africa, 11th February 2009)
Article metrics loading...