Jump to navigation

Vol 46 No 5

Published 4th March 2005


South Africa

All about the jobs

The budget boosts public spending and reduces taxes but cutting unemployment will be the key test

Finance Minister Trevor Manuel's budget offered a generous formula for fuelling growth and cutting taxes without letting inflation rip. He called it 'More for all': a balancing act between maintaining business confidence and promoting job-creating growth. Most independent economists agree with Manuel's 23 February budget forecast of gross domestic product (GDP) growth of 4 to 4.5 per cent this year. And most back his plans for higher public spending, now increased to 418 billion rand (US$73 bn.) from R370 bn. in 2004-2005.

End of preview - This article contains approximately 1093 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.


If you have a print subscription already, click here for a password that gives you full access to the website.

If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.