Economic Freedom in a Time of Crisis: An FMF proposal to National Treasury
The South African government’s reaction to the 2019 coronavirus (COVID-19) outbreak, whilst likely necessary in many respects, will no doubt entail short- and long-term economic consequences that will be to the detriment of all South Africans. South Africa went into the pandemic in a state of recession and over ten million unemployed, with ‘junk status’ investment ratings looming large.
The Free Market Foundation is of the view that the detrimental consequences of government’s response to the outbreak can be largely mitigated. These measures will take political will but are guaranteed to lessen the impact of COVID-19 on South Africans’ wallets and economic prospects.
As such, the Free Market Foundation has answered National Treasury’s call for proposals on how it could go about its own response to COVID-19, by outlining 12 simple and to the point recommendations.
These recommendations primarily concern lessening South Africans’ tax burden, allowing them to keep more of the preciously little they have, putting the state’s resources to better, more rational use, and abandoning ill-considered government policies that would otherwise compound the damage done to the economy by the COVID-19 response plan.
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Publish date: 27 March 2020
The views expressed in the article are the author’s and are not necessarily shared by the members of the Foundation.