BUDGET: SA Canegrowers welcomes no increase in sugar tax
SA Canegrowers on Wendesday said that it welcomes the decision by Finance Minister Enoch Godongwana not to enact any further increases in the Health Promotion Levy (or sugar tax) in his Budget 3.0.
"Introduced in 2018, the sugar tax cost 16 000 jobs and R2 billion in revenue in the first year of implementation alone, according to independent research by Nedlac. Any increase would risk the livelihoods of growers and increase unemployment in many parts KwaZulu Natal and Mpumalanga, where there are few other job opportunities," SA Canegrowers said.
"The sugar tax has been nothing but destructive for South Africa. While the Nedlac study demonstrated concrete proof of job losses, no evidence has been provided to show the tax has reduced obesity or improved the health of South Africans in any way," it further stated.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
SowetanLIVE
5 hours ago
- SowetanLIVE
Joshco bridges housing gap for missing middle residents
Construction is under way on what will become the largest phase of the Johannesburg Social Housing Company's (Joshco) Riverside View project in Diepsloot, which will add more than 700 new units to the growing social housing development. During an oversight visit, Nhlamulo Shikwambana, Joshco's acting COO, said 'the development has already completed three phases, with tenants living in over 300 units, and construction of phase 4 now under way'. 'Once complete, phase 4 will add over 700 more units. This is going to be our biggest build in the area. The plan is to reach over 1,000 units in Diepsloot' Shikwambana said the project is specifically aimed at South Africans in the 'missing middle', those who earn too much to qualify for RDP houses but too little to afford bonded homes. 'We are closing the gap for people who fall through the cracks. Most of our residents come from informal areas. We want them to feel safe and comfortable without being financially overstretched,' added Shikwambana.
IOL News
6 hours ago
- IOL News
'VBS was our lifeline': Ramokgopa pressures treasury to restore Limpopo's lost bank
ANC treasurer-general Gwen Ramokgopa pleads with government to help rebuild VBS. Image: File photo ANC treasurer-general Dr Gwen Ramokgopa issued a stirring plea to the South African Reserve Bank and National Treasury: step in and help to rebuild the looted and collapsed Venda Business Society (VBS) Mutual Bank. Ramokgopa was speaking on Thursday at a packed memorial service for ANC veteran and revered liberation figure, Reverend Dr Tshenuwani Simon Farisani, held at the George Phagadi Town Hall in Thohoyandou. The late struggle stalwart and former Lutheran bishop passed away on May 29. His funeral will take place on Saturday at the University of Venda Stadium. In her tribute, Ramokgopa honoured Farisani's lifelong commitment to justice, recalling his outspoken defence of VBS victims who lost life savings and community investments when the bank collapsed under a staggering R2 billion looting scandal. 'Government, under President Cyril Ramaphosa, has been for the people. We always said those who stole from VBS must be punished and languish in jail,' Ramokgopa said, adding that the Finance Department and the Reserve Bank should assist the suffering community to revive their only hope, VBS. In her address, Ramokgopa reminded the nation of the Vhembe community's enduring pain — a pain worsened by betrayal and scandal. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Since the shocking collapse of VBS in 2018, over 53 individuals have been charged with theft, fraud, corruption, money laundering, and violations of the Prevention of Organised Crime Act — accused of siphoning more than R2 billion from the mutual bank that once symbolised financial hope for Limpopo's people. Ramakgopa emphasised that the government has successfully rebuilt several institutions and therefore VBS should not be an issue. 'We have also successfully rebuilt the Limpopo provincial government after it collapsed through fraudulent activities,' she said. IOL Politics
The Citizen
6 hours ago
- The Citizen
Welcome to adulting: what to do with your first pay check
With the right habits, a first pay check is not just income but a launchpad to financial freedom for young people. When you get your first pay check it could feel like you are an adult now. That also means that you must treat your money like an adult, but not all young people know how to manage their money wisely. Debra Slabber, director and portfolio specialist at Morningstar Investment Management South Africa, shares her own early financial experiences and four practical lessons she wishes she knew when starting out: #1: Understand the basics of money Financial literacy is often overlooked in our school system and rarely discussed openly at home. Learn to budget, spend wisely and grow your wealth. Just a little effort up front can make a big difference later. The goal is financial confidence, not perfection. ALSO READ: How to use your pay cheque to get financial freedom #2: Spend less than you earn This is the golden rule of personal finance, although it is often ignored in the early years. 'There is no shame in living frugally while you build a foundation. Avoid using debt to fund your lifestyle. Loans should support long-term goals such as buying a house, not short-term gratification.' #3: Start investing no matter how small Investing even R250 a month can make a meaningful difference when invested consistently over time. 'Time is your biggest financial advantage. Harness the power of compounding now, and your future self will thank you.' ALSO READ: How to make the most of your first salary #4: Enjoy the process of building wealth Building wealth is not about depriving yourself but about empowerment. 'There is joy in taking control of your finances and seeing your progress over time. Learn about the different tools available, track your growth and celebrate the small wins with your first paycheck.' Slabber's advice is clear: the earlier young South Africans start making smart money choices, the better positioned they will be for long-term success.
