The Department of Minerals and Energy is working on regulations to govern "the norms and standards" of energy appliances so as to reduce the use of energy, Minerals and Energy Minister Buyelwa Sonjica said on Wednesday. Speaking ahead of her budget vote, the minister acknowledged that people would be obligated "to be energy efficient".
A flat tax in which the ratio of tax to taxable income is the same at all levels of income -- and which replaces various tax bands that feature in a progressive tax regime with a single tax -- would allow the South African government to gather more tax at lower rates, Free Market Foundation (FMF) economist Jasson Urbach has argued.
Some exceptional items gave rise to the growth in the deficit on the current account of the balance of payments towards the end of last year, but this has been "easily financed by capital inflows", South African Reserve Bank (SARB) Governor Tito Mboweni told MPs on Tuesday.
Increased trade is beneficial to Africa in that it supports poverty alleviation and is able to create new employment opportunities on the continent, said Finance Minister Trevor Manuel. It promotes regional integration and helps to expand intra-regional trade "while infusing new capital and technology into the continent", he told the Parliamentary Network on the World Bank.
South Africa's Trade and Industry Minister Mandisi Mpahlwa consulted a legal team on Wednesday evening about the decision of the Pretoria High Court to set aside the awarding of the national lottery licence to Gidani, government spokesperson Themba Maseko said on Thursday.
The application of a wage subsidy to neutralise the effect of the proposed social-securities tax for low-income workers -- as proposed by South African Finance Minister Trevor Manuel -- "is completely inappropriate for our economy", Ian Davidson from the Democratic Alliance said on Thursday.
Protection can make South African companies lazy, South African Finance Minister Trevor Manuel told the Lion of Africa breakfast on Thursday. "Part of what we must do is engage with South African business to ensure that they too understand that they can take the world on," he said.
The recent African Union summit confirmed that the African continent remains united "in its determination" to pursue the objectives fundamental to the African renaissance, including accelerating socio-economic development, South African President Thabo Mbeki said on Friday.
Increasing the rate of inflation through expansionary fiscal or monetary policies will "certainly not" lead to reduction of high rates of unemployment in South Africa, a Free Market Foundation economist, Jasson Urbach, has argued in a paper entitled <i>Is South Africa Headed for a Battle between the Twin Evils?</i>.