President Ramaphosa announced that government will in two weeks’ time announce a package of economic measures to cushion the public from fuel price hikes and the Value Added Tax increase.
The Chairperson of the Select Committee on Economic and Business Development, Mr Mandla Rayi, has welcomed the “extraordinary step” taken by President Cyril Ramaphosa to cushion South Africans against the fuel price increases.
Mr Rayi said: “It has never happened that a head of state will go this far and this kind of commitment to a nation is most welcome. This is appreciated, especially if one looks at the impact these fuel hikes will have on small struggling businesses. The fuel price hikes were likely to impact negatively on economic growth and menial jobs.”
On Friday, President Ramaphosa announced that government will in two weeks’ time announce a package of economic measures to cushion the public from fuel price hikes and the VAT increase.
“Our people reside far from workplaces and that simply means having to spend more on travelling and fuel cost. But also small businesses are the engine of growing the economy and job creation, which are the objectives of this administration,” he said.
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