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Bothanomics
The term Bothanomics refers to the economic reform program announced by then-State President of South Africa P.W. Botha during his opening address on February 5, 1988, to the Parliament of South Africa in Cape Town. The solutions proposed to the severe economic crisis that afflicted South Africa in the late 1980s included the following: * the establishment of value-added tax to replace the general sales tax; * the centralization of public finance; * the privatization of state-owned companies such as the Electricity Supply Commission (Eskom), South African Transport Services (SAVD), Pos en Telekommunikasie ( P&T), the steel manufacturer Iron and Steel Corporation ( Yskor), and several roads; * more efficient management of government finances, reduction in government spending, and the repayment of government debt (using the income from privatization sales); * the promotion and development of infrastructure projects and institutions, and small businesses in developing areas; * dere ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Reform
Microeconomic reform (or often just economic reform) comprises policies directed to achieve improvements in economic efficiency, either by eliminating or reducing distortions in individual sectors of the economy or by reforming economy-wide policies such as tax policy and competition policy with an emphasis on economic efficiency, rather than other goals such as equity or employment growth. "Economic reform" usually refers to deregulation, or at times to reduction in the size of government, to remove distortions caused by regulations or the presence of government, rather than new or increased regulations or government programs to reduce distortions caused by market failure. As such, these reform policies are in the tradition of laissez faire, emphasizing the distortions caused by government, rather than in ordoliberalism, which emphasizes the need for state regulation to maximize efficiency. Microeconomic reform in Australia Microeconomic reform dominated Australian economic po ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State President Of South Africa
The State President of the Republic of South Africa () was the head of state of South Africa from 1961 to 1994. The office was established when the country 1960 South African republic referendum, became a republic on 31 May 1961, outside the Commonwealth of Nations, and Queen Elizabeth II ceased to be Monarchy of South Africa, Queen of South Africa. The position of Governor-General of South Africa was accordingly abolished. From 1961 to 1984, the post was largely ceremonial. After constitutional reforms enacted in 1983 and taking effect in 1984, the State President became an executive post, and its holder was both head of state and head of government. The State President was appointed by both Houses of the Parliament of South Africa (Senate of South Africa and the House of Assembly of South Africa) meeting jointly in the form of an electoral college for this purpose. The office was abolished in 1994, with the end of Apartheid and the transition to democratic majority rule. S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of South Africa
The Parliament of the Republic of South Africa is South Africa's legislature. It is located in Cape Town; the country's legislative capital city, capital. Under the present Constitution of South Africa, the bicameralism, bicameral Parliament comprises a National Assembly (South Africa), National Assembly and a National Council of Provinces. The current 28th South African Parliament, twenty-eighth Parliament was first convened on 14 June 2024. From 1910 to 1994, members of Parliament were elected chiefly by the South African Whites in South Africa, white minority. The first elections with universal suffrage were held in South African general election, 1994, 1994. Both chambers held their meetings in the Houses of Parliament, Cape Town that were built 1875–1884. A 2022 Parliament of South Africa fire, fire broke out within the buildings in early January 2022, destroying the session room of the National Assembly. It was decided that the National Assembly would temporarily m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cape Town
Cape Town is the legislature, legislative capital city, capital of South Africa. It is the country's oldest city and the seat of the Parliament of South Africa. Cape Town is the country's List of municipalities in South Africa, second-largest city by population, after Johannesburg, and the largest city in the Western Cape. The city is part of the City of Cape Town metropolitan municipality (South Africa), metropolitan municipality. The city is known for Port of Cape Town, its harbour, its natural setting in the Cape Floristic Region, and for landmarks such as Table Mountain and Cape Point. In 2014, Cape Town was named the best place in the world to visit by ''The New York Times'', and was similarly ranked number one by ''The Daily Telegraph'' in both 2016 and 2023. Located on the shore of Table Bay, the City Bowl area of Cape Town, which contains its Cape Town CBD, central business district (CBD), is History of Cape Town, the oldest urban area in the Western Cape, with a signi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value-added Tax
A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax, because the consumer who ultimately bears the burden of the tax is not the entity that pays it. Specific goods and services are typically exempted in various jurisdictions. Products exported to other countries are typically exempted from the tax, typically via a rebate to the exporter. VAT is usually implemented as a destination-based tax, where the tax rate is based on the location of the customer. VAT raises about a fifth of total tax revenues worldwide and among the members of the Organisation for Economic Co-operation and Development (OECD). As of January 2025, 175 of the Member states of the United Nations, 193 countries with UN membership employ a VAT, including all OECD members except the Tax ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Tax
A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often laws provide for the Tax exemption, exemption of certain goods or services from sales and use tax, such as food, education, and medicines. A value-added tax (VAT) collected on goods and services is related to a sales tax. See Value-added tax#Comparison with sales tax, Comparison with sales tax for key differences. Types Conventional or retail sales tax is levied on the sale of a good to its final good, final end-user and is charged every time that item is sold retail. Sales to businesses that later resell the goods are not charged the tax. A purchaser who is not an end-user is usually issued a "resale certificate" by the taxing authority and required to provide the cer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Finance
Public finance refers to the monetary resources available to governments and also to the study of finance within government and role of the government in the economy. Within academic settings, public finance is a widely studied subject in many branches of political science, political economy and public economics. Research assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. The purview of public finance is considered to be threefold, consisting of governmental effects on: # The efficient allocation of available resources; # The distribution of income among citizens; and # The stability of the economy. American public policy advisor and economist Jonathan Gruber put forth a framework to assess the broad field of public finance in 2010:Gruber, J. (2010) Public Finance and Public Policy (Third Edition), Worth Publishers, Pg. 3, Part 1 # When shoul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eskom
Eskom Hld SOC Ltd or Eskom is a South African electricity public utility. Eskom was established in 1923 as the Electricity Supply Commission (ESCOM) (). Eskom represents South Africa in the Southern African Power Pool. The utility is the largest producer of electricity in Africa, and was among the top utilities in the world in terms of generation capacity and sales. It is the largest of South Africa's state owned enterprises. Eskom operates a number of notable power stations, including Matimba Power Station and Medupi Power Station in Lephalale, Kusile Power Station in Witbank, Kendal Power Station, and Koeberg Nuclear Power Station in the Western Cape Province, the only nuclear power plant in Africa. The company is divided into Generation, Transmission and Distribution divisions, and together Eskom generates approximately 95% of electricity used in South Africa, amounting to ~45% used in Africa, and emits 42% of South Africa's total greenhouse gas emissions. By releasi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Department Of Telecommunications And Postal Services
The Department of Communications and Digital Technologies (formerly the Department of Telecommunications and Postal Services and the Department of Communications) is one of the departments of the South African government. It is responsible for overseeing the South African communications, telecommunications and broadcasting industries. The political head of the department is the Minister of Communications and Digital Technologies, who is assisted by a deputy minister. the minister is Khumbudzo Ntshavheni and her deputy is Philly Mapulane. In 2014 President Jacob Zuma renamed the original Department of Communications to the Department of Telecommunications and Postal Services, at the same time creating a new Department of Communications with different responsibilities, including propaganda. In June 2019 President Cyril Ramaphosa announced that the two departments would be merged to create the Department of Communications and Digital Technologies. Ministers through the years Por ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mittal Steel South Africa
ArcelorMittal South Africa is part of the steel company Arcelor-Mittal. The company was originally Iscor Ltd., a South African parastatal steel company. It was founded in 1928 and was first listed on the JSE Securities Exchange in 1989. In January 2025 it announced that it would be shutting down steel operations in Newcastle and Vereeniging. History Establishment of the company Hendrik van der Bijl, one of the most influential South Africans of the twentieth century, together with Dr. Fredrik "Frikkie" Meyer, (a student of Albert Einstein while studying in Berlin), and others, were the main driving force behind the establishment of the South African Iron and Steel Industrial Corp. (Iscor). Iscor, with its first works in Pretoria built by the German Demag, was established as a state company in terms of the Iron and Steel Industry Act, No. 11 of 1928. The objectives of establishing the company were to produce iron and a range of steel products, and to create employment op ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Debt
A country's gross government debt (also called public debt or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to stimulus measures during the Great Recession, and the COVID-19 recession. Governments may take on debt when the government's spending desires do not match government revenue flows. Taking deb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Infrastructure
Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and private physical structures such as roads, railways, bridges, airports, public transit systems, tunnels, water supply, sewers, electrical grids, and telecommunications (including Internet connectivity and broadband access). In general, infrastructure has been defined as "the physical components of interrelated systems providing commodities and services essential to enable, sustain, or enhance societal living conditions" and maintain the surrounding environment. Especially in light of the massive societal transformations needed to mitigate and adapt to climate change, contemporary infrastructure conversations frequently focus on sustainable development and green infrastructure. Acknowledging this importance, the international co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
