• Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

  • To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

  • Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

All data is delayed
Loading...
See More

Naamsa: Use fuel levy for Gauteng tolls

Feb 22 2012 17:48
Sapa
Johannesburg - The solution to the Gauteng tolls announced in the budget on Wednesday is not ideal, the National Association of Automobile Manufacturers of SA (Naamsa) said.

"The automotive industry would have preferred to see freeway improvement programmes being financed through an administratively more efficient and less costly fuel levy," Naamsa president David Powels said.

Naamsa, however, welcomed Finance Minister Pravin Gordhan's announcement that a special R5.8bn appropriation would be paid to the SA National Roads Agency Limited to ease the toll burden in Gauteng.

Motorists would now pay 30c a kilometre, instead of 66c as originally proposed.

Naamsa had in general welcomed the budget given the slower growth in the domestic economy and uncertain global economic outlook.

"The minister had tabled an appropriate and disciplined set of budget proposals intended to support growth, employment and poverty alleviation through targeted interventions," Powels said.

"Particularly noteworthy was the substantial expenditure earmarked for competitive enhancing capital infrastructure development focusing on projects in the energy, transport and logistics sectors."

The R9.5bn in personal tax relief would have a positive impact on consumer sentiment and demand, which could in turn help vehicle sales.

However, Naamsa was concerned that the increase in capital gains taxes for individuals and companies was unexpected and could prove counterproductive in promoting investment.

The association endorsed the public sector infrastructure programme, support for industrial development and economic zones, the rollout of employment programmes and the investment in further education and skills, Powels said.

Of concern was the funding for the proposed national health insurance system.

"These matters required careful evaluation, including detailed impact assessment, so as not to prejudice future consumer demand and economic growth in South Africa," Powels said.
pravin gordhan  |  fuel levy  |  gauteng tolls  |  naamsa

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
7 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...