New report confirms catastrophic impact of the Sugar Tax on jobs and the economy
3 June 2021
A new report on the socio-economic impact of the Health Promotion Levy (HPL or sugar tax), introduced in 2018, highlights the devastating impact the tax has had on the sugar industry as well as the broader economy and jobs.
The report titled Economic Impact of the Health Promotion Levy on the Sugar Market Industry, commissioned by the National Economic Development and Labour Council (NEDLAC) at the request of the Portfolio Committee of Trade and Industry, reveals that by 2019, the sugar tax had resulted in:
16 621 total job losses in the overall economy
a R653 million decline in investment into the economy