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SA Canegrowers elects new board members at yearly meeting

SA Canegrowers elects new board members at yearly meeting
engineeringnews.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from engineeringnews.co.za Daily Mail and Mail on Sunday newspapers.

Cane growers call for sugar tax to be scrapped

Cane growers call for sugar tax to be scrapped Updated Algoa FM News Share this: The country s sugar industry says a new report on the socio-economic impact of the so-called sugar tax has highlighted the blow it s dealt the industry. Helene Valenzuela / AFP The report was commissioned by the National Economic Development and Labour Council (Nedlac) at the request of a parliamentary committee. The SA Canegrowers Association says it showed that by 2019, the sugar tax had resulted in over 16 000 total job losses in the overall economy - a R653 million rand decline in investment into the economy and a R1.19 billion rand decline in the contribution to GDP.

SA s sugar tax leads to catastrophic losses in the industry

South Africa’s sugar tax resulted in the catastrophic loss of more 16 621 jobs in 2019 South Africa s sugar tax led to the loss of thousands of jobs and hundreds of millions of rands in investment within a year, according to a report commissioned by the National Economic Development and Labour Council.  The report, titled  The Economic Impact of the Health Promotion Levy, found that by 2019, the tax, which was introduced in 2018, resulted in the loss of 16 621 jobs and R653 million in investment. The report further found that the tax resulted in a R1.19 billion decline in the industry’s contribution to the economy, through its Sugar Industry’s Gross Value Added Contribution.

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