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BDLive reports that the Treasury has dismissed claims by the beverage industry that thousands of jobs will be lost and hundreds of small businesses will shut if a proposed sugar tax is implemented.
To quell ongoing speculation about the effects of the sugar tax, the Treasury plans to conduct an impact study that may shed further light on the possible impact of the tax on the economy. "The results of the impact study will be made available when we give feedback on the comments on the policy paper towards the middle of November 2016," the Treasury indicated. Monday was the deadline for responses on a policy paper published in July. The industry says it stands to lose about R13bn in revenue, while 60,000 jobs would be lost and 10,000 small businesses — mainly spaza shops in townships — would be shut down.
- Read this report by Asha Speckman in full at BDLive
Get other news reports at the SA Labour News home page