Tax from ‘resilient’ mining sector underpins R38.9bn post-riot relief package

Tax revenues from South Africa’s high-flying mining industry have provided the financial underpin for a new R38.9-billion relief package unveiled by Finance Minister Tito Mboweni on Wednesday to support businesses devastated by recent looting and property destruction and to provide ongoing relief to workers and citizens negatively affected by Covid-19 lockdowns. The package includes R36.2-billion of fresh spending and tax relief and a further R2.7-billion to be be sourced from the reprioritisation of budgets at the Department of Trade, Industry and Competition (DTIC) and the Department of Small Business Development (DSBD).