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Business for SA asking for Level 2, swiftly

18 May 2020 6:43 PM
Tags:
Corona
Lockdown
COVID-19
level 4
b4sa

''Government revenue will collapse and huge business failures will ensue unless we move to level 2 now.''

South Africa must quickly restore people’s capacity to earn, warns Business for SA (B4SA).

There is concern that we're heading for societal collapse.

We think that we're on the brink here - it's not a life versus lives or lives versus livelihood debate, it's about addressing the fundamental issues that underpin society where we can give people access to nutrition, where we can be assured they can deal with health concerns. Loss of income is linked quite explicitly to lower life expectancy, therefore we need to return the economy to full productivity as quickly as possible.

Martin Kingston - B4SA

The modelling we have done demonstrates that if we stay at level 4, the prospect is a contraction in GDP of about 14-and-a-half percent in 2020 and we're going to lose nearly two million and more jobs in the formal sector and nearly three million jobs in the informal sector. The budget deficit can grow to 16 per cent. If we move quickly through level 4 and 3 to level 2 we can see us reducing that shrinking in GDP, we can see about a million jobs being saved and six percentage points being saved on the budget deficit. We're keen on going to level 2 as quickly as possible, by that we don't mean skipping level 3, we mean transitioning quickly...

Martin Kingston - B4SA

There are two big caveats that I have to stress - we have to apply our minds to not only workplace health and safety but also health and safety in transporting people to and from work whilst curbing transmission. Also a fundamental change in societal behaviour. If we are not going to see social distancing, wearing of facemasks, we're going to curb transmission but we're going to see the surge we're all concerned about. We're going to have to live with the virus for an extended period of time and we're going to have to get used to living with the virus which means we're going to have to change the manner in which we conduct our lives. That's the only way we can responsibly return the economy to full productivity whilst minimising the health risk, particularly to those who are most vulnerable in society.

Martin Kingston - B4SA
© peshkov/123rf.com

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18 May 2020 6:43 PM
Tags:
Corona
Lockdown
COVID-19
level 4
b4sa

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