The South African Chamber of Mines has said a delay of five years for the proposed draft carbon tax bill would be advantageous, as there has not been a proper regulatory impact assessment of the economic costs and benefits of imposing such a tax. In an interview with Fairfax Media on Wednesday, Mr Weatherill said: "We have to get this done in time because we are going into a period where people will start paying more taxes." and it is argued that the bill would not materially reduce global carbon emissions as the country contributes only 0.9% towards the global total.
The South African Chamber of Mines has said a delay of five years for the proposed draft carbon tax bill would be advantageous, as there has not been a proper regulatory impact assessment of the economic costs and benefits of imposing such a tax. Imposing a carbon tax bill would also make South Africa the first developing country to do so and it is argued that the bill would not materially reduce global carbon emissions as the country contributes only 0.9% towards the global total.