Twenty-eight female guards were unfairly dismissed by a security company because the client‚ Metrora.
Defending the budget of the National Treasury in Parliament yesterday, Finance Minister Trevor Manuel said that the slowdown in growth in the first quarter of the year was short-term.
"We remain of the view that our growth is both dynamic and robust," he told MPs in an extended committee of the National Assembly.
"The driver remains investment, both public and private. Our export performance is strong and, unlike some other countries, growth in India and China supports growth in South Africa. You must recognise that there is a very strong linkage."
The minister also strongly defended the policy of inflation targeting. "The introduction of inflation targeting in February 2000 was neither an accident nor a fashion statement," he said. "It was introduced against a backdrop of interest rate increases of 700 basis points in 1998. Some were caused by global factors and some by domestic circumstance arising from the absence of an anchor for monetary policy."
The finance minister told members that the country had not lived through a more complex period since democracy in respect of the economy.
He warned that things may well get worse. "Price instability risks becoming even harder as the wage demands drive us into a new inflationary spiral resulting in distorted prices and consequent job losses," he said. - I-Net Bridge