Alec Hogg: The high cost of Pretoria’s poverty mentality

Once upon a time, South African lawmakers understood the multiplier effect of tax incentives on an economy. During that period, the country's spectacular natural beauty, abundant sunshine and globally aligned tax breaks resulted in dozens of expensively produced international movies being shot in SA..Read more: Alec Hogg: Einhorn explains why Value is coming back.The myopic approach which now prevails is typified by Budget 2021's abolition of the highly successful 12J incentive scheme. And brought home again this week when SA wasn't even in the frame when Amazon deliberated its $465m commitment for the first series of a made-for-TV version of Lord of The Rings..The series dwarves the $100m per season spent on the previous top dog Game of Thrones. It will be shot in New Zealand which is offering Amazon an unprecedented tax break of at least $114m. Admittedly, New Zealand did have the inside track after hosting Peter Jackson's blockbuster trilogy on the JRR Tolkien books. Movies which it says sustained the country's tourism for years..___STEADY_PAYWALL___.Read more: Jackie Cameron: Global tech titans under pressure.NZ's government is betting Amazon's new series will help get the tourism wheels rolling once normality returns. Ironically, Tolkien was born in Bloemfontein and drew inspiration from the Eastern Cape. Neither are in NZ. A reminder of SA being blessed by its people, but cursed by its (poverty mentality) leaders..For your listening and viewing pleasure.Latest audio on BizNews Radio… (click on the link to access).BPH: Cape Town fires; Logan on Cartrack; NFT explainer; Steinhoff bluesFB: DA on runaway fire; Eskom R7bn bill; J&J vaccine; illicit cigarette tradeExplainer: Non-fungible tokens – $50,000 and 3 weeks laterDrive Time with Jarryd Neves: Renault Duster TechRoad 1.5 dCi EDC 4×2Trillian whistleblower Bianca Goodson: The truth comes at a price"I was treated like a leper" – former Trillian CEO Mosilo MothepuLast conversation with SA giant who made world better – Christof Heyns.Latest videos on BizNews TV… (subscribe on YouTube and daily at 5:30pm get to see all the studio action of BizNews Power Hour).Magda Wierzycka on being tapped and harassed by STATE security

Alec Hogg: The high cost of Pretoria’s poverty mentality

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