SA HAS “little to show” for its high debt levels because more of the money the government has borrowed over the past five years has been spent on paying public servants than on infrastructure programmes to induce growth. Sanlam financial services group economist Jac Laubscher said on Wednesday that money could have been better spent: “If that big increase in debt had gone into infrastructure instead of consumption expenditure then we would have had assets in return for the increasing debt.” ….more