Tag Archives | David Maynier

President Jacob Zuma must explain the bizarre recall of Pravin Gordhan

The fact that President Jacob Zuma has instructed the Minister of Finance, Pravin Gordhan, together with the Deputy Minister of Finance, Mcebisi Jonas, to cancel their international investor roadshow and return to the country immediately is a major setback for the economy in South Africa. The instruction to cancel the international investor roadshow without explanation…

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We need a super committee on inclusive economic growth in Parliament

Note to editors: The following speech was delivered in Parliament today by the DA’s Shadow Minister of Finance, David Maynier MP, during the debate on the Fiscal Framework 2017. 1. Introduction Two weeks ago, the Minister of Finance, Pravin Gordhan, tabled the main budget in this Parliament with both hands tied behind his back and…

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Brian Molefe funded a “dirty war” on National Treasury

The Minister of Public Enterprises, Lynne Brown, revealed today that the Progressive Professionals Forum, headed up by “Jimmy” Manyi, received a whopping R840 000 in “sponsorships” from two state-owned enterprises in South Africa. Replying to a parliamentary question, the minister revealed that the Progressive Professionals Forum received a staggering R440 000 in “sponsorships” from Eskom…

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We need to strengthen the FICA

Note to Editors: The speech was delivered by the DA Shadow Minisiter of Finance, David Maynier MP, in the National Assembly today during the Financial Intelligence Centre Amendment Bill debate. The Financial Intelligence Centre Amendment Bill [B33B-2015] (“The Bill”) is one of the most important “legislative weapons” in the fight against corruption in South Africa….

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SA gets a second stay of execution from Standard and Poors

We welcome the decision by Standard and Poors Global Ratings Services (“Standard & Poors”) to maintain an investment grade sovereign credit rating, with a negative outlook, for South Africa. Today, Standard & Poors affirmed its foreign currency rating at BBB-, but lowered its local currency rating to BBB, which is two notches above “junk status”,…

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Fitch’s rating is clear evidence that the politics is killing the economics in SA

The decision by Fitch Ratings (“Fitch”) to affirm its sovereign credit rating at “BBB-” and revise down its outlook to “Negative” is clear evidence that the politics is killing the economics in South Africa. Despite noting that the economy may have started recovering, Fitch identifies “political risk” as the key “rating driver” in South Africa….

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“Budget war” is not over: now we will tackle a R1 billon-plus of wasteful expenditure in the Adjustments Appropriation Bill

Today, following a third “three-line-whip” the ANC finally managed to form a quorum and pass the Division of Revenue Amendment Bill [B15-2016] in the National Assembly. This time the Division of Revenue Amendment Bill passed with 228 “Yes” votes, 86 “No” votes and 0 “Abstentions”, and will now be referred to the National Council of…

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ANC suffers a humiliating defeat as DORAB fails to pass again in Parliament

Deputy President Cyril Ramaphosa suffered a humiliating defeat when the Division of Revenue Amendment Bill [B15-2016] was not passed for a second time in Parliament. The Minister of Finance, Pravin Gordhan, tabled the Division of Revenue Amendment Bill two weeks ago during the medium-term budget policy statement, providing for a R5.41 billion adjustment to national…

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We will probe the secret reprimand of rogue minister Mosebenzi Zwane

Today, President Jacob Zuma announced that the Minister of Mineral Resources, Mosebenzi Zwane, had been reprimanded for his “midnight statement” calling for the establishment of a Judicial Commission of Inquiry into the termination of financial services to Oakbay Investments (Pty) Ltd. Replying to parliamentary questions on the matter President Jacob Zuma simply stated: “I reprimanded…

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