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Analyst Warns Dropping the Govt Fuel Levy Could Cause R90bn Gap in the Fiscus

SOUTH AFRICA

LOCAL NEWS

  • Ministers are reportedly mulling the suspension of fuel levies to ease the burden of higher energy prices on consumers. Automobile Association Analyst warned that dropping the 34% levy completely could leave a R90bn hole in the fiscus.
    • Says other mitigation measures for fuel prices would be limits on diesel quotas exported, promoting work from home and even rationing fuel per motorist in the worst case – CapeTalk
  • Opposition calls for secret ballot in motion of no confidence in Ramaphosa set for 30 March, but also wish to speak to Speaker Mapisa-Nqakula on a range of topics including security and the national state of disaster – IOL News
  • Former Treasury Budget office Head Michael Sachs warns that pulling the Covid-19 grant without implementing a permanent replacement in 2023 is risky for Ramaphosa as it could spark unrest or be used by his opponents.
    • The Treasury extended the grant for another 12-months, but rising energy prices have added another risk to increased social welfare spending – BusinessDay
  • National Assembly informs Ramphosa of Parliament’s intention to go ahead with the impeachment of Public Protector Mkhwebane. This follows a string of rulings against her in recent months as opposition parties push for her removal - SABC
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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