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Alexander Reed Kelly - A bold experiment is under way in the world’s fifth-largest economy: As part of a recovery plan aimed at plugging a $48 billion hole in the French budget, leftist President Francois Hollande announced last week a 75 percent tax on the personal incomes of anyone earning more than $1.3 million a year, effective for two years beginning in 2013. The decision has some of the country’s top earners, led in the media by cosmetics tycoon Jean-Paul Agon, suggesting that the new rules...
Glenn Ashton - Recently government ministers were asked what schools their children attend. Only Angie Motshekga, Minister of Education, responded, admitting her children attended a private institution. Everyone else refused to answer, arguing that this was private information, which was not in the public interest. Their silence spoke volumes. The state spends approximately R16 000 on each learner every year. The education budget devours more than 20% of our national budget as the biggest single budget...
Seeraj Mohamed, Director of Corporate Strategy and Industrial Development, School of Economic and Business Sciences, Wits University, talks about the increasing role of finance in the South African economy, tracing its roots to the apartheid era. We've seen a process of policy continuation from the apartheid government to the ANC-led government in following a model of liberalizing the economy by emulating the policies of the US and the UK, contends Mohamed. He elaborates - as South...