National Development Plan’s success already visible, says Gordhan

2014-02-27 00:00

THE success of the National Development Plan (NDP), which aims to accelerate growth and reduce inequality by 2030, is already visible, says Finance Minister Pravin Gordhan.

According to a Treasury review of the 2014 Budget, the NDP, in conjunction with the New Growth Path and Industrial Policy Action Plan, paves the way for economic transformation. It aims to modernise the economy, address development changes and improve the lives of South Africans.

According to the review, there have been many “critical actions” in various sectors of government. The NDP has also expanded collaboration between public and private sectors.

These include the renewable Energy Independent Power Producer Procurement Programme, which encourages technological innovation to generate environmentally sustainable electricity; the National Education Collaboration Trust, a joint venture to improve infrastructure and teaching in needy schools; the Jobs Fund; the Clothing and Textile Competitiveness Programme, which also aims to prevent illegal imports; and the green community and youth employment accords.

Gordhan said to make rapid progress in creating jobs and reducing poverty, the economy would have to grow at five percent a year or more.

To achieve this, a wide range of initiatives are under way:

• Accelerated public infrastructure investment;

• New spatial plan for cities, improved public transport and upgrading informal settlements;

• Support for special economic zones and manufacturing incentives;

• A tax incentive to encourage youth employment;

• Further expansion of public works programmes;

• A renewed focus on accountability and quality in education;

• Phasing in of the National Health Insurance scheme;

• Further investment in renewable energy; and

• Steps to professionalise the public service.

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