How much more alcohol will cost you after Mboweni’s 2021 Budget Speech
Once again this year, you’ll be paying more for your sins.
JOHANNESBURG – On Wednesday, Finance Minister Tito Mboweni announced a raft of changes for South African consumers and businesses during his Budget Speech for 2021.
One of the most unpopular increases with South Africans is excise taxes on alcohol and cigarettes.
Once again this year, you’ll be paying more for your sins. In spite of calls from the alcohol and tobacco industry to ease excise duties on booze and tobacco, government plans to raise them by 8% for 2021/22.
“It is clear that excessive alcohol consumption can lead to negative social and health outcomes. Consumers do react to price increases, and higher prices should lead to lower consumption of alcohol products with positive spinoffs,” Mboweni said during his speech, which began at 2pm.
Here’s a breakdown of what that means for your buying power:
- a 340ml can of beer or cider will cost an extra 14c
- a 750ml bottle of wine will cost an extra 26c
- a 750ml bottle of sparkling wine an extra 86c
- a bottle of 750 ml spirits, including whisky, gin or vodka, will increase by R5.50
- a packet of 20 cigarettes will be an extra R1.39c
- 25 grams of piped tobacco will cost an extra 47c
- a 23 gram cigar will be R7.71 more expensive.