And now for something all too familiar

Peter Bruce talks to trade and industry expert Donald MacKay in this first edition of Podcasts from the Edge for 2024. Why are our grand master plans failing? Because we’re trying to pick winners, says Mackay, and where you make winners in a market economy, there’ll also be losers. Steelmaker Arcelor Mittal, just two years ago the centre-piece of ANC government’s promised new re-industrialisation dream, founded on localisation, has just announced it is shutting down half its business. At the department of trade, industry and competition the process of creating or extending or rebating import duties is now almost completely off the rails and no longer trusted by business. Is it just a case of good policies being smothered by a State unable to implement them. Or is it plain bad policy? Listen to hear the answer...