SA TIRED OF PLAYING ‘BIG BROTHER’

MBABANE – South Africa wants revenue from the Southern African Customs Union (SACU) to be used only for developmental purposes.

Such could be infrastructural or industrial development.

The SACU revenue accounts for over 50 per cent of the country’s national budget.
About 70 per cent of the national budget is spent on personnel costs, which include salaries, allowances, air travels and perishable goods.
According to a paper recently presented to the National Assembly of South Africa by the Director of Trade and Commerce, SACU should negotiate, as a bloc, and use tariffs as instruments for industrial development.

The Department of Trade and Industry told the MPs there was a need to develop a portion of funds for cross-border regional infrastructure and industrial development projects.
This department oversees the administration of SACU, on behalf of the South African Government, which is the official manager of the SACU revenue.

The SACU Council of Ministers adopted a set of principles to guide the work of a Task Team set up to develop options on how SACU revenue should be collected and shared. 

The set of principles adopted by the SACU Council include among others; a recommendation that revenue shares allocations should be developmental and not redistributive.

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: