Posted by: Grant | March 1, 2014

South Africa Jumps Off Bandwagon

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South Africa Delays Carbon Tax, Plans Levies on Acid Mine Water
By Mike Cohen
Feb 26, 2014 10:04 PM GMT+1000
http://www.bloomberg.com/news/2014-02-26/south-africa-delays-carbon-tax-plans-levies-on-acid-mine-water.html

” …“The National Treasury and the Department of Environmental Affairs have agreed that a package of measures is needed to address climate change and to reduce omissions,” Gordhan said in his budget speech in Cape Town today. “To allow for further consultation, the implementation of the carbon tax is postponed by a year to 2016.”

The government will probably raise 8 billion rand to 30 billion rand a year from the proposed tax, according to Cecil Morden, the Treasury’s chief director of tax policy. Companies including steelmaker ArcelorMittal South Africa Ltd. (ACL) and gold producer AngloGold Ashanti Ltd. (ANG) said the additional charges are not affordable and will deter investment…. “

The ALP/Greens gave a Carbon Tax and nobody came!!

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