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'Govt wants to destroy alcohol industry and boost illicit market with 8% hike'

25 February 2021 1:23 PM
Tags:
Sin tax
finance minister tito mboweni
budget2021
alcohol and tobacco

National Liquor Traders Council national convener Lucky Ntimane says the industry is disappointed by tax increase on alcohol.

During his 2021 Budget speech on Wednesday, Finance Minister Tito Mboweni announced that there would be an 8% tax increase on alcohol and tobacco.

The alcohol industry has expressed grave concern over the announced taxes by the minister.

RELATED: Govt wants to avoid slashing public servant salaries at all costs - Mogajane

Mandy Wiener on the Midday Report chats to the National Liquor Traders Council (NLTC) national convener Lucky Ntimane to weigh in on the tax hikes.

These tax adjustments don't take into account the significant increase in the illicit market that has grown during the sales ban. This was an unfair announcement by the minister.

Lucky Ntimane, National convener - National Liquor Traders Council

He adds that the increase has a ripple effect as taverns that struggled to open, will now sell products at a much higher price.

This seems to be the behaviour of government to want to destroy the industry. The announcement was to boost the illicit market

Lucky Ntimane, National convener - National Liquor Traders Council

Listen below to the full conversation:




25 February 2021 1:23 PM
Tags:
Sin tax
finance minister tito mboweni
budget2021
alcohol and tobacco

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