Fiscal policy is the economic policy that deals with the government expenditure, taxation, and loans. Fiscal policy is the responsibility of the minister of Finance and the National Treasury. List the four main components of the government or public sector in South Africa. (2) Similar to markets, governments can also fail. What are the two major reasons for government failure? (2) The role of government in the economy can be summarised by distinguishing between three broad functions of government. List and explain the three broad functions of government.