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/ 15 February 2006

‘We were marching for bread and roses’

Police brandishing whips and some carrying guns broke up demonstrations by women and students in Bulawayo city and arrested 159 of the protesters who were marching across the city calling on President Robert Mugabe to resign. Meanwhile, the police on Sunday night heavily assaulted informal traders near Harare’s Market Square bus termini.

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/ 15 February 2006

Defence Budget well received

The 2006/7 defence Budget has been well received, with one observer calling it realistic and another calling it positive. Asked for comment, African Armed Forces editor Peter McIntosh said the Budget was realistic. ”It is coming into line with international norms regarding personnel, equipment and operational costs,” he said.

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/ 15 February 2006

‘Firm support’ for Denel

The anticipated expenditure outcome for 2005/06 of R419-billion took into account unforeseeable and unavoidable expenditure of R2-billion to the state arms company Denel Corporation, and R2,7-billion to the Road Accident Fund, reported South African Finance Minister Trevor Manuel.

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/ 15 February 2006

Manuel upbeat about economic future

An upbeat Minister of Finance Trevor Manuel painted a rosy picture of the South African economy during his 10th Budget speech to the National Assembly on Wednesday, but also sounded a word of warning. ”Business confidence is strong; investment and employment creation have gained momentum; inflation and interest rates remain moderate,” he said.

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/ 15 February 2006

Manuel hands out tax cuts

Individuals and companies are to benefit from tax cuts totalling R19,1-billion in terms of the 2006/07 Budget announced by Finance Minister Trevor Manuel on Wednesday. The net benefit for individuals amounted to R12,1-billion. The income threshold below which no tax was payable was raised from R35 000 to R40 000 a year.