New research shows there are signs that more people are returning to work, after the retrenchments and temporary retrenchments, seen during the first part of the covid-19 lockdown. Research by BankservAfrica shows that 2.1% more formal-sector employees received a salary in September, compared to August. In June, salary payments across South Africa fell by 20.7%, and by 35% in July.

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Smile Staff Reporter
Smile Staff Reporter

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South African Revenue Service commissioner Edward Kieswetter says the hard lockdown had a significant effect on revenue collection, with a major decline in domestic value-added tax and other taxes. Kieswetter was reacting to yesterday’s Medium-Term Budget Policy Statement where Finance Minister Tito Mboweni noted a decrease in revenue collection. Kieswetter said that imports had decreased, with local VAT also affected.
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The petrol price is expected to drop by between 24 and 27 cents per litre next week. According to the latest estimate from the Central Energy Fund, 95 petrol is on track for a cut of around 27c a litre, while 93 petrol could be lowered by 24c. Diesel prices could be cut by around 11c.

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