While retaining their economic dominance, English-speakers continued to hold the key to future domestic fixed investment, and to foreign fixed investment. By 1948 the per capita income of English-speakers was more than double that of Afrikaners, and their level of edu­cation was much higher. They also identified with a culture that was vastly richer and more diverse than Afrikaans culture.

After the 1948 election the English community in South Africa found itself in the political wilderness. Patrick Duncan, son of a South African governor-general, wrote: 'English South Africans are today in the power of their adversaries. They are the only English group of any size in the world today that is, and will remain for some time, a ruled, subordinated minority. They are beginning to know what the great majority of all South Africans have always known - what it is to be second-class citizens in the land of one's birth.'

For English-speaking business leaders, the NP victory came as a major shock, as the Smuts government had been ideal for English business. After 1948, English business leaders contributed substantially to the United South African Trust Fund that funded the UP- with a view to unseating the NP government. Ernest Oppenheimer, the magnate controlling the giant conglomerate Anglo American Corporation, was the main donor. However, business was hardly liberal, and this fund refused to back the Liberal Party that Alan Paton had helped to form after the 1953 election - which propagated a programme of a multi-racial democracy based on universal franchise.

By the mid-1950s, English business leaders were beginning to accept the status quo, and were working with the government. Manufacturers enthusiastically welcomed the government's policy of promoting growth and boosting import substitution through protection. Mining magnates reaped the benefits of a very cheap, docile labour force, while blaming the government for the system.