News 12:00

NEWSFLASH NEWS AGENCY 15 November 12 pm

Good afternoon. I am……..

In this bulletin:

# A parliamentary committee endorses the DA’s plan to cut VAT on food  

# Eight shops in the Johannesburg CBD are affected by a fire

# And the Welsh Rugby Union vows to implement the recommendations of a damning review  

# The DA welcomes the endorsement by Parliament’s standing committee on Finance to expand the zero-VAT-rated food basket, aiming to alleviate financial strains on households. While the National Treasury hints at potential tax measures to offset revenue shortfalls, the party vehemently opposes additional taxes. Amid economic challenges, the DA’s Dion George urges minister of Finance Enoch Godongwana to act promptly, proposing the inclusion of essential items. George advocates for prudent expenditure management as an alternative to tax increases:

Play sound: ENG GeorgeOnVAT

# Firefighters from the City of Johannesburg’s Emergency Management Services attended to a fire at corner of Jeppe and Polly Streets in the CBD. The fire has been contained after a total of eight small shops were affected. No injuries have been reported. The EMS’s spokesperson, Xolile Khumal, says fire inspectors will now conduct investigations to determine the cause of the fire:

Play sound: ENG XolileonFireCBD

# Economist Dawie Roodt has criticised South Africa’s new tax incentive for environmental conservation, particularly rhino and lion protection. He argues the incentive, which allows taxpayers to direct funds to conservation efforts, is flimsy, and suggests a more effective approach would be to protect private property rights. He recommends allowing rhino owners to sell their animals, including their horns, to create tangible monetary value. The tax incentive aims to unlock about 1.5-million-rand annually for conservation but faces scepticism about its impact on biodiversity and financial effectiveness.

Staying with nature:

Kenyan president William Ruto has urged negotiators involved in the Global Plastic Pollution Treaty to urgently secure a deal. Last year, 175 countries committed to conclude a United Nations treaty to combat plastic pollution in the oceans by next year. Ruto was speaking during the third round of talks in Nairobi, and emphasised the need for countries to explore alternatives to plastic bag use, reflecting the principles of re-use, refill, and repair. Ruto also called on innovators to invest in Africa, leveraging its natural resources for planet-friendly alternatives:

Play sound:  ENG-RutoOnTreaty

# Rugby: Incoming Welsh Rugby Union chief executive Abi Tierney has vowed that all of the recommendations from the independent review report will be implemented. The review found aspects of the union culture were sexist, misogynistic, racist homophobic and not properly challenged. Thirty-six recommendations covering governance, complaints handling, the union’s approach to inclusion and diversity, and investment in the women’s game, have been made. Tierney says the report is incredibly humbling and describes issues, actions and attitudes that are hugely regrettable.

# And the financial indicators: The dollar trades at 18-rand-18-cents and the euro at 19-rand-76-cents. One British pound costs 22-rand-66-cents and Bitcoin trades at 35-thousand-749-dollars-1-cents. Gold sells at one-thousand-971-dollars-46-cents a fine ounce and Brent crude oil is quoted at 82-dollars-43-cents a barrel.

Stay tuned for more news………….