Monday, 26 September 2016

South Africa’s sugar tax to cost thousands of jobs

South Africa’s proposed sugar cost could lead
to the loss of thousands of jobs and closures
of several businesses.

According to the chairman of Coca-Cola
Beverages Africa, about 60,000 jobs could be
lost due to the proposed tax on sugary
beverages.
The sugar tax was proposed by the National
Treasury during budget hearings in February.
Finance Minister Pravin Gordhan had
announced that sugar tax will be levied from
April next year.
The proposed tax is part of government
strategy to reduce obesity and diabetes in the
country by at least 10 per cent by 2020.
Ranked as one of the most obese nations on
the continent, the country is joining a growing
list of countries around the world,trying to put
a cap on fizzy drinks