Finance Minister Trevor Manuel announced Growth, Employment and Redistribution (GEAR), a macroeconomic strategy built around tighter fiscal policy and gradual foreign-exchange liberalisation. COSATU welcomed some goals but objected to conservative fiscal policy and the limited consultation. The dispute exposed tension between the ANC government’s policy choices and working-class constituencies in its alliance.
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What was GEAR?
COSATU expressed reservations about GEAR’s conservative fiscal policies.
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Explanation
COSATU supported some aims but raised reservations over fiscal policy and consultation.