Course is not just a necessary and overdue response to climate change, but also involves a strong dose of self-interest
There will be far too much red in the 2020 budget. Finance minister Tito Mboweni faces a downgrade threat from Moody’s, an expanding fiscal deficit, disappointing tax revenues and challenges in the parastatals, which are hungry for cash.
Stubbornly relying on coal would mean we would lose touch with the technologies of tomorrow, and the benefits they will bring We should also not forget that we need to work on climate change issues because international trade rules are evolving and will increasingly penalise dirty products — in which case we would lose out on international trade and jobs. There is even talk about broader carbon adjustments in the form of direct tariffs on the carbon content of imported products.
We have a carbon tax, and it will start to be collected this year. But what will happen to the money? Instead of being ring-fenced it will probably be absorbed into the general fiscus, to be used for routine spending on programmes that may have little or nothing to do with the environment.Instead, let us ring-fence the cash, and use it to preserve and expand those incentive schemes that encourage and reward greener practices and promote energy saving.
Start by slashing these taxes, introduce new subsidies, and start greening SA’s roads. Similar support should be offered to those municipalities that adopt fleets of clean buses, and to industry players that do the same. There is insufficient government support to promote manufacturing of green cars and buses in SA and not enough investment in research & development to stimulate this industry.
Another green initiative that could help transform the environmental scene is to increase tax on plastic, a big pollutant. Proceeds could be used to support glass producers.
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