'Govt wants to destroy alcohol industry and boost illicit market with 8% hike'
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.
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 marketLucky Ntimane, National convener - National Liquor Traders Council
Listen below to the full conversation:
Source : https://www.123rf.com/photo_137904018_saratov-russia-february-5-2019-different-brands-of-sparkles-on-the-shelves-.html
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