Alec Hogg – SA Budget’s dirty secret

'Tito and Cyril are facing their Thatcher moment. They will need to draw on their inner Iron Lady to tame SA’s public sector wage monster', says Alec Hogg.
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This graph published in Treasury's 2021 Budget Review released yesterday, speaks louder than 1,000 words. South Africa's public servants cost taxpayers proportionately double those in Ireland, Korea and Switzerland – 50% more than the UK and USA. Indeed, in cost they rank alongside the Nordics. Ouch.

This excessive burden is a direct consequence of the Zuma Administration's economic idiocy which raised public sector salaries an average of 4% above inflation annually over the past decade. This compares with a private sector which had to cope with anaemic 1.5% annual GDP growth over the same period.

___STEADY_PAYWALL___

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