An inability to enforce law and order and health protocols would risk livelihoods and threaten the social compact, says Business for SA's Martin Kingston.Business presented a bleak picture of the economic outlook to the National Economic Development and Labour Council meeting chaired by President Cyril Ramaphosa on Friday, but its biggest concern is that SA’s social fabric may be irreparably damaged if the lockdown is not well managed.
“We have to balance the health and economic risks but our biggest worry is social cohesion – an inability to enforce law and order and health protocols would risk livelihoods and threaten the social compact,” said Kingston. And while globally economists are debating whether the economic recovery will be a sharp “V” shape or a slower “U” shape, here the likelihood is it will be an “L” shape – a permanent loss of economic activity and income.
Business has been working with the government, and labour, on the health and hygiene protocols that will be required for firms in particular sectors, or geographies, to start to reopen, as well as on the economic criteria by which priority sectors should be chosen.
The horse has bolted yesterday already. Too late for tears.
Your are very optimistic. Satania imploded since 2007. Backslide never stopped since then.
What you mean could?! It has imploded already.
Implode ke eng guys