The Treasury has rejected the plea by organised business to reduce the carbon tax rate proposed for 2026 and 2030 on the grounds that it is too onerous, with Treasury acting deputy director-general Ismail Momoniat saying he was concerned and “rather surprised” by the lack of vision of business and “disappointed” about its lack of leadership.

Momoniat said in parliament on Wednesday that the objection of business to the carbon tax was not something it would say to foreign investors. He asked whether business was trying to understand the challenges faced by SA with regard to climate change and their own commitments to reducing carbon emissions over the next 10-15 years...

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