Page 4 - HGR 2016
P. 4


      SOLUTIONS LIE WITH US                                                                                   Home Goods Retailer

So it has come and gone. The medium term budget that is! Long awaited by anybody                HGR Team
and everybody with a toe in the economy – which means most of us here in South Africa
and large numbers outside. Investors, potential investors, rating agencies et al. All with           Publisher and Editor-in-chief
a stake in the economy, however large or however small. We knew the budget could not                         Contact: Ian Hughes
be anything more than a holding exercise that was an attempt to reassure South Africans
and others that the economy was stable - not growing but not in a nose dive either. If               Tel: 011 728 6593 | 082 553 8154
finance minister Pravin Gordhan’s predictions for growth in 2016 had to be revised down-                    E-mail:
ward from just under 1% to half that, yet 0.5% is better than negative growth. That would
have terrified the agencies and more than likely would have placed us on ‘junk’ status. And           National Sales & Marketing
that, we don’t have to spell out, would have made our current economic problems look like                  Contact: Roger Callighan
a trip to a pleasure park – violent student demonstrations and all. The rand would weaken                      Tel: 079 102 3247
further and the cost of borrowings would become prohibitive even if we could access
capital markets. And inflation would run away…..                                                            Contact: Pippa Hughes
                                                                                                               Tel: 082 552 2675
  So what does it all mean for the economy? Gordhan’s budget has simply offered us
a breathing space, nothing more, and shown us the way forward. We well know that                           Admin & Accounts
growth is critical, that is what this economy desperately needs, but how can it grow when                   Contact: Pippa Hughes
revenues are stretched and debts have to be paid? Cutting costs to the bone and trimming
every vestige of fat from our battered economy was Gordhan’s priority, but even there                          Tel: 082 552 2675
his political masters have had the last say, protecting the inefficiencies of SAA, SABC etc.
and other state enterprise. In effect then Gordhan was hamstrung. He knows that state                              Design
spending will continue to remorselessly rise, even while revenues remain static (at best).                Contact: Taryn Haley (9IT)

  There is an election coming up and public sector wage demands are becoming more                              Tel: 071 602 4553
vociferous . And the appalling truth is that this country is leaderless. It is drifting closer             E-Mail:
and closer to the shoals while our political masters devote more and more time and state
resources to further enriching themselves.We need to factor them out of any equation            Copyright on all editorial in Home Goods
and look to ourselves. Growth must spring from our own energies and our own resources           Retailer is owned by the publisher and
and our own will. You cannot continue trying to do business as you always have done.            reproduction without permission is
There is no future there. What counts now is initiative , lateral thinking and boldness.        prohibited. The opinions expressed in
Always boldness, the bold always win.                                                           Home Goods Retailer are not neces-
                                                                                                sarily the views held by the editor or
                                     Ian Hughes                                                 publisher. We reserve the right to edit
                                                                                                – for purposes of space and clarity – all
                                                                                                editorial material and letters submitted
                                                                                                for publication.

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