If you were planning to drink away your worries over this year’s budget speech, we’re afraid it is going to cost you. Finance Minister Tito Mboweni offered no relief to those who enjoy the wilder side of life, opting to increase the sin tax levy on several goods and items
It follows on from a punishing year that’s gone before us, too. Sin tax was bumped up by former Finance Minister Malusi Gigaba in 2018, with increases of 10% implemented on some items. The move was justified as being a way to raise R1.33 billion for the economy. It seems Mboweni has followed this lead with his proposed changes.
Your weekend plans haven’t been drastically altered just yet, however. The increases will come into effect next month. That means you’ve still got some time to enjoy your guilty pleasures at a more affordable price. Here’s how much more you’ll be paying for these goods next month.
More for your #liqour as sin tax increases. #Beer to rise 12 cents to R1.74; 750ml bottle of sparkling #wine up 22 cents to R3.15; bottle of #whisky up R4.54 to R65.84; pack of 20 #cigerettes up R1.14 to R16.66; #Fuel levy to rise 29 & 30 cents #petrol & #diesel #Budget2019— Trends Mzansi Blog (@TrendsMzansi) February 20, 2019
Another expected sin tax rise comes from our fuel levies. The tax we pay for petrol and diesel is also set to rise in 2018. Petrol will be going up by 29 cents per litre, whereas diesel goes one better, increasing to 30 cents per litre. It’s a bruising result for the average consumer. Perhaps it’s time to start cycling and drinking Sorghum beer instead?