Carbon taxes will not hurt South Africa's economy: Treasury - CNBC Africa

Carbon taxes will not hurt South Africa's economy: Treasury

Southern Africa

by Reuters 0

Carbon taxes will not hurt South Africa's economy says Treasury. Photo: Flickr

South Africa's proposed taxes on gas emissions will not impact already high electricity prices, nor will it add pressure to sectors such as the mining industry, the Treasury said on Monday.

"Taking into account the current state of the mining and other distressed sectors, the combined effect of the rates (and) exemptions in the carbon tax and the reduction in electricity levy will be designed to ensure that such sectors are not adversely affected," the National Treasury said in a Draft Carbon Tax Bill released for public comment.

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