SAB says it has noticed an increase of less than 1% since the improvements in macroeconomies.
From left to right: SAB’s CEO, Richard Rivett-Carnac; SAB’s Vice President of Corporate Affairs, Zoleka Lisa; Minister of Agriculture, John Steenhuisen; and Chairperson of the Portfolio Committee on Agriculture, Dina Pule at the State of Beer Economy at the Caledon Farm Research & Development Facility in the Western Cape. Picture: Supplied
However, the South African Breweries says they have noticed an increase of less than 1% since the improvements in macroeconomies.SAB’s chief executive officer Richard Rivett-Carnac toldthat the slight increase can mean that things are getting better for consumers, however, they are still prioritising necessities.
“Based on the Fiscal Framework, no tax instruments are actually increased during the tabling of the Medium-Term Budget Policy Statement on 30 October.” “This has happened only twice over the last 11 years. That’s only 18% of the time. What would be mutually beneficial would in fact be a multi-year excise tax approach- say over three years, giving the beer industry a greater degree of tax certainty and increasing its ability to plan,” he said.
Rivett-Carnac added beer as a critical driver of economic growth. The alcohol industry makes a positive contribution to the industry.Agriculture development “Beyond crops, this investment has been crucial in job creation, economic growth, and building a more sustainable future for our nation.”Hops are an important ingredient for beer, and there are only a few farms where these are grown. The main hops farm is in George, Western Cape, where there are at least seven private farmers.
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