The energy surcharge bomb shell dropped this week after months of anticipation as the price of oil continued to spiral to reach unprecedented levels. Government this week raised the energy surcharge from 50 per cent to 95 per cent while absorbing a further twenty per cent of the initially proposed 116 per cent surcharge level. In reality the amount absorbed by government will still be funded through taxes collected and the millions which will be used to subsidise the surcharge could have been earmarked for other purposes such as a national project or tax reform.
