PG and Nene – Yubbadubbado

On the Davis Tax Committee, we have worked under 4 finance ministers in 4 years. Albeit that one only stayed for a weekend and we never met him. Thank God!

A lot of pundits wanted Pravin Gordhan back as minister of finance. I think South Africa’s greatest warrior for good is well deployed on a mission into State owned enterprises. There must be more than a handful employed and associated with SOE’s who are swallowing vast quantities of Imodium today.

Nhlanhla Nene is a fantastic choice for Minister of Finance. Remember he was PG’s understudy as deputy minister. And he did well in his previous stint as minister of finance. Right up until he put a stop to extravagance and corruption, that is. He can walk into the job tomorrow fully briefed and start to kick butt, in his own subtle way!

Nene is respected internationally and that will be worth a great deal in the aftermath of state capture.

Nene has a massive job ahead and not much time. I don’t think the National Budget proposals 2018 have much backbone. They don’t represent radical economic transformation or an attempt at containing the national debt.

Quote : ‘The choice we face in considering these proposals is a difficult one. But we believe that this course can no longer be postponed’.Nhlanhla Nene, Minister of Finance,22 October 2014 Medium Term Budget policy Statement.

Nene is the only finance minister who has attempted to bring meaningful change to SA economic policy in the last 5 years. And he got fired for doing so. PG did his best while at the same time fending off a dreadful assault.

The miracle of it all is that we have gone from the firing of Gordhan on 31 March 2017 to getting both Gordhan and Nene back in the right places. All in 11 months. Or you can call it one month if you will.

Sometimes I still think I’m dreaming.

Meanwhile if only we could get Michael Sachs back to National Treasury. He has the talent to balance off the worthy ideals of radical economic transformation and sound economic policy.