News 18:00

BULLETIN 4 March 6 pm

Good afternoon. I am……..

In this bulletin:

# Salga proposes a zero-VAT-rating on essential items like water and electricity
# Germany wants to reintroduce conscription as Europe becomes more unsafe
# And the SA Open will be played at the Stellenbosch Golf Club next year

# The South African Local Government Association has proposed the zero-VAT-rating of essential items like water and electricity. SALGA’s Sabelo Gwala says taxing luxury goods will increase government revenue, suggesting a staggered VAT approach. This comes ahead of Finance minister Enoch Godongwana’s revised budget next Wednesday following disagreements over a potential VAT increase. Gwala warns that a blanket VAT hike would have severe consequences:

# Save South Africa has criticised minister of Small Business Development Stella Ndabeni-Abrahams for failing to clarify the distribution of 500-million-rand for spaza shop owners. The movement insists that the funds should be for South African entrepreneurs and condemns foreign ownership of spaza shops. Spokesperson Tebogo Mashilompane has also slammed the government’s poor handling of the registration process, warning of corruption risks:

# Solidarity has launched an aid project to support workers affected by the closure of ArcelorMittal’s long-steel plants. According to the union, despite a month of discussions, the closures in Newcastle in KwaZulu-Natal, Vereeniging in Gauteng, and eMalahleni in Mpumalanga were confirmed last Friday, and retrenchment consultations are nearing completion. Solidarity’s Willie Venter criticised the government for intervening too late and the company for not modernising its plants earlier:

# Germany’s conservatives who are set to lead the next government says the country should quickly reintroduce compulsory military service. Head of the CDU/CSU bloc that won last month’s elections, Friedrich Merz, has argued that in the era of US president Donald Trump, Europe will have to better handle its own security. The defence policy spokesperson of his centre-right alliance, Florian Hahn, says Germany’s suspension of conscription no longer fits the current threat situation. He says they cannot stand by and watch as the world around them becomes more unsafe.

# Golf: The 115th South African Open will be played at Stellenbosch Golf Club, with the Cape’s fourth oldest club hosting the national open for the second time in its history at the end of February next year. The club hosted the SA Open in 1999 when local favourite David Frost won the title at the club where he grew up and used to caddie for his father. General manager Chris van der Merwe says the club is delighted to welcome the SA Open back to its fairways.

# And the financial indicators: The dollar trades at 18-rand-57-cents and the euro at 19-rand-54-cents. One British pound costs 23-rand-60-cents and Bitcoin trades at 82-thousand-815-dollars. Gold sells at two-thousand-914-dollars-76-cents a fine ounce and Brent crude oil is quoted at 70-dollars-48-cents a barrel.

Stay tuned for more news………….