BevSAFin24 reports that the proposed 20% tax on sugar sweetened beverages (SSBs) could possibly generate only R4.4bn of the R7.5bn that was estimated, research by Oxford Economics revealed.  

The independent consultancy released a research report commissioned by the Beverage Association of SA (BevSA) on Thursday.  It highlights that the soft drink industry‚Äôs contribution to GDP could reduce by R14.6bn, which would translate into 60,600 to 70,700 job losses in the industry.  The industry directly contributes R17.2bn to GDP, or 0.5%, and provides jobs for up to 133,000 people.  he cost of sugar sweetened beverages could on average rise by 25%.


Get other news reports at the SA Labour News home page