n IMIESA - Many paths, one direction : best in SA roads

Volume 41, Issue 2
  • ISSN : 0257-1978



THE IMPORTANCE OF economic growth must be considered in a deep normative context. Because governments borrow against future growth, excessive spending on basic access roads that choked off growth would erode the ability of the state to borrow. The amount of redistributive tax revenue that government is able to collect also progressively falls if growth stalls. Economic growth is, therefore, essential if government is to maintain the fiscal capacity to sustain and grow expenditure on key public services that target the least well-off.

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