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Answer :
4.3.6 Objectives of the National Development Plan (NDP):
The National Development Plan (NDP) aims to eliminate poverty and reduce inequality in South Africa by 2030. Key objectives include:
- Economic growth: Increasing the economy to create jobs and improve living standards.
- Education and skills development: Improving education quality and skills development to increase employment opportunities.
- Health care: Ensuring healthier lives by improving access to good health care.
- Infrastructure development: Expanding and maintaining infrastructure to support economic growth and service delivery.
- Environmental sustainability: Using natural resources wisely to sustain growth and environmental health.
4.3.7 Progressive Personal Income Taxes and Wealth Taxes:
Progressive personal income taxes and wealth taxes are tools used to address income inequality. Here’s how they work:
- Progressive taxes: These increase as a person’s income increases. Higher earners pay a higher percentage of their income in taxes, which helps redistribute wealth.
- Wealth taxes: Taxes on the value of assets owned, such as property or investments. These discourage hoarding of wealth and help fund social programs, benefiting the wider population.
4.3.8 Recent Labour Laws and Wealth Creation in South Africa:
Recent labor laws aim to protect workers and foster a fair, productive work environment, contributing to wealth creation by:
- Minimum wage laws: Ensuring a basic standard of living for workers, which can lead to increased consumer spending and economic growth.
- Equal opportunity employment: Promoting diversity in the workforce, tapping into a broad range of talents and ideas which can drive innovation and growth.
- Worker protection: Improving job security and working conditions, leading to a more motivated and productive workforce.
4.3.9 Impact of Corruption on Good Governance in South Africa:
Corruption undermines good governance by:
- Misallocation of resources: Public funds may be diverted from important projects to private interests, reducing effectiveness of public services.
- Erosion of trust: Citizens may lose faith in government institutions, leading to decreased public engagement and cooperation.
- Increased inequality: Corruption often benefits a few at the cost of many, deepening social and economic divides.
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