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BusinessLive reports that as consumers brace for another sharp increase in the petrol price at the beginning of June, the Organisation Undoing Tax Abuse (Outa) has called on Finance Minister Enoch Godongwana to extend the R1.50/l reduction of the general fuel levy, which expires on 31 May.
The government announced the 40% cut in the fuel levy in April as part of a R6bn package to ease the burden on motorists. “With this temporary fuel levy reduction of R1.50 intended to be reversed on May 31, we have asked the finance minister to consider the extension of this reprieve, failing which the price of petrol and diesel will increase to over R25 per litre in the coming months,” said Outa CEO Wayne Duvenage. Extending the reduced levy would affect National Treasury’s collections by about R2.8bn a month, but the economy would be significantly worse off with further petrol price hikes, Duvenhage said. Outa alternatively suggested that Godongwana should consider phasing in the full levy over three months at 50c a month. “The high fuel price has an ongoing negative effect on the economy, affecting a wide range of issues such as food prices and commuter costs,” Duvenage pointed out.
- Read the full original of the report in the above regard by Denis Droppa at BusinessLive
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