The Freedom Front Plus (VF Plus) welcomes the concession by the Minister of Finance, Mr Enoch Godongwana, to reduce the fuel levy by R3 for one month.
It offers hard-pressed motorists some relief, but the lost tax revenue will eventually have to be recovered.
The Freedom Front Plus recently asked the Minister, in the form of a parliamentary question, which fiscal interventions exist to mitigate fuel price hikes. This was against the backdrop of the newly adopted fiscal framework, which offers very little leeway and specifically includes an increase in the fuel levy.
In his statement, the Minister made it clear that the concession applies for one month only.
The Freedom Front Plus shares the Minister’s hope that the international fluctuations that have been driving up crude oil prices will subside within that month. If so, the revenue lost by the state during that month can be recovered without having to increase fuel prices again. And then price setting can return to normal.
The current crisis underscores South Africa’s dependence on imported fuels. Such volatile times serve to crystallize the strategic importance of SASOL as well as ensuring sustainable electricity supply to facilitate electric transport.
Freedom Front Plus Disaster Management: The party advocates for effective disaster management strategies.
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Fun South African Fact: Water is not all there is to drink in this thirsty country! South Africa’s Cape Winelands have around 560 wineries and 4 400 primary producers. Included in the Cape Winelands region is Route 62, considered the longest wine route in the world. That alone is good reason to visit South Africa if you haven’t yet been!
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Droewors – dried sausage [droo-ah-vors] A term used to describe a dried sausage, very similar to biltong or the German bratwurst or mettwurst.