The Treasury won’t back down on its 2016 implementation of the carbon tax which could net it between R8bn and R30bn in revenue a year‚ the paper reports today.
The measure‚ opponents of the tax say‚ would lead to further increases in electricity prices – Eskom is one of the heaviest emitters — in an economy that is struggling under load shedding and low growth.
Treasury hopes to release a draft bill within the next two months for public comment‚ allowing enough time to get it promulgated by next year.
This public consultation platform will run alongside the Davis tax committee’s plan to review the carbon tax proposals‚ specifically “any possible negative economic and social impacts of the carbon tax over the short term and hence the need for a smooth and gradual transition toward a low carbon economy”.
The Davis platform could aid opponents of Treasury’s proposals‚ who would prefer to see incentives to invest in new‚ more energy-efficient processes and projects‚ rather than an extra burden on industry which would reduce the country’s competitiveness.
Below the fold…
A rise in new orders and increased buying by private-sector companies in March could signal an expectation of business activity going up further in coming months.
The Markit/HSBC SA whole economy purchasing managers’ index (PMI) rose from 50 in February to 51.6 last month — its highest level since October last year.
Treasury stand firm over carbon tax
The Treasury won’t back down on its 2016 implementation of the carbon tax which could net it between R8bn and R30bn in revenue a year‚ the paper reports today.
The measure‚ opponents of the tax say‚ would lead to further increases in electricity prices – Eskom is one of the heaviest emitters — in an economy that is struggling under load shedding and low growth.
Treasury hopes to release a draft bill within the next two months for public comment‚ allowing enough time to get it promulgated by next year.
This public consultation platform will run alongside the Davis tax committee’s plan to review the carbon tax proposals‚ specifically “any possible negative economic and social impacts of the carbon tax over the short term and hence the need for a smooth and gradual transition toward a low carbon economy”.
The Davis platform could aid opponents of Treasury’s proposals‚ who would prefer to see incentives to invest in new‚ more energy-efficient processes and projects‚ rather than an extra burden on industry which would reduce the country’s competitiveness.
Below the fold…
A rise in new orders and increased buying by private-sector companies in March could signal an expectation of business activity going up further in coming months.
The Markit/HSBC SA whole economy purchasing managers’ index (PMI) rose from 50 in February to 51.6 last month — its highest level since October last year.
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