Gold prices help S. Africa propose a growth budget
March 28, 1980
Cape Town
South Africa, buoyed by high world prices for its gold, has announced a "something for everyone" growth budget including $1.1 billion in tax concessions and an 11 percent increase in defense spending. Finance Minister Owen Horwood, presenting his budget to Parliament for the fiscal year starting April 1, also announced higher pay for teachers and other civil servants, improved education and housing for blacks, and the abolition of import surcharges.