Jane Mlambo| Finance Minister Professor Mthuli Ncube has announced that Zimbabwe will scrap the divisive two percent tax in the two to three years saying the country cannot have austerity forever.
Speaking at the Global Shapers Zimbabwe Road to Davos discussion in the capital yesterday, Ncube said he was now comfortable with the fiscal side of his austerity measures and is now working on the monetary side.
He spoke against the demands for dollarisation which he described as capitulation while justifying the need to re-introduce the Zimbabwean dollar.
“I’m now comfortable with the fiscal side in austerity measures. I even contemplate easing taxes in the next 2/3 years. We can’t ‘ve austerity 4eva. What’s left now is the heavy weight lifting on the monetary policy side. Dollarization would be capitulation. We need own currency” said Ncube.