South Africa’s sugar tax has generated a profit of R2.7-billion in a little under a year since it was implemented, according to the latest Treasury figures.The true motivation of the tax is not to refund, but to reduce the levels and consumption of sugar”.
But, explained Mulambo, the ring-fencing of any tax is against Treasury’s policies and money generated from the HPL goes into the National Revenue Fund to be used for general government expenditure, including health expenditure. But the South African Canegrowers Association recently claimed that the tax has cost the industry R925-million during the 2018-19 financial year. In February, thethat more than 1,000 jobs had already been lost due to the levy. In the statement released by its chief whip John Steenhuisen, the party further claimed that 350,000 jobs in the sugar industry are at risk because of the sugary drinks tax and called for a moratorium on the tax in Parliament.
Experts argue that the impact of the tax on the sugar industry has been negligible, but that the industry is using the tax as a scapegoat for “longer-term structural challenges”.
Source: Healthcare Press (healthcarepress.net)
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