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Today's Budget will provide a strong boost to growth, employment, equity and a better life for our people. The Budget has shown that we are now in a position to reap the rewards of disciplined and strategically sound economic policy.

The Department of Trade and Industry would encourage people to utilise the tax relief to improve their saving and to reduce debt. This will have a positive effect on household budgets allowing more sustainable consumption patterns over time.

The new graduated tax system for small, medium and micro enterprises will assist with the cash flow and cost of capital problems that arise for these enterprises. If this relief is combined with the support provided by the Small Manufacturers Development Programme then there is a very significant support package now available for start up enterprises. The tax relief along with other support programmes will make a very real contribution to the existing small business sector.

The continual move to divert resources to the lower income earners and to narrow income inequalities will also have a positive effect on growth as it is now a well established fact that a more equitable income distribution and sound and stable macroeconomic policies are growth generating.

The Budget is an excellent step in the determined path to provide a better life for our people.

Issued by Ministry of Trade and Industry, 23 February 2000