Prices: Manuel warns against quick fixes

Manuel says quick-fix solutions will provide little relief for the poor

Be wary of "quick fix" measures such as price controls to curb rising food prices, Finance Minister Trevor Manuel warned today.

News24 quoted him as saying in Parliament: "I do want to caution the house against quick fix solutions that actually provide very little for the poor and especially for young children who are badly in need of nutrition.

"The key issue about food prices is that it is a global matter and that South Africa is not among the 50 worst-affected countries at the moment, so we mustn't be talked into all kinds of panic."

The problem with quick-fix actions, such as price controls, was the ability to administer them, Manuel said. - Sapa