Finance Minister, Nhlanhla Nene, said the South African Government will publish a draft of the controversial carbon tax bill for public comment next week. The Bill, which has been approved by the Cabinet, is designed to reduce carbon emissions in South Africa; Africa's biggest polluter. In an interview with Reuters, Mr Nene said: "We are going through this process and we want people to have their say on it. Former Finance Minister, Pravin Gordhan, said the Bill needed tweaking to better protect industry from a proposed tax price of 120 rand per ton of carbon equivalent. The new carbon tax bill is expected to be phased in over time as one of South Africa's green initiatives to reduce its carbon footprint.
Finance Minister, Nhlanhla Nene, said the South African Government will publish a draft of the controversial carbon tax bill for public comment next week. The Bill, which has been approved by the Cabinet, is designed to reduce carbon emissions in South Africa; Africa's biggest polluter. However, two years ago the Bill was postponed until 2016, following a global commodities slump, higher electricity tariffs and fears that it would further reduce industry profits. Former Finance Minister, Pravin Gordhan, said the Bill needed tweaking to better protect industry from a proposed tax price of 120 rand per ton of carbon equivalent. The new carbon tax bill is expected to be phased in over time as one of South Africa's green initiatives to reduce its carbon footprint.