Gordhan must be redeployed - ANCYL

schumi

schumi

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Johannesburg – Finance Minister Pravin Gordhan has failed to transform the Treasury and must be redeployed, the ANC Youth League said on Friday.

“Get someone who is going to start cracking the whip in Treasury, to make sure that the people in Treasury will have the appetite to pursue the development agenda of South Africa and not protect white monopoly capital,” ANCYL secretary general Njabulo Nzuza told reporters at a briefing on the outcomes of its national executive committee meeting.

Financial institutions like banks were continuing to enjoy the protection of Treasury, he said.

The league had accused Gordhan of having a "huge appetite" to protect financial institutions.

Thousands of the league's supporters marched to Absa bank in central Johannesburg last week. This was in reaction to a Public Protector report that Absa had benefitted from an unlawful apartheid-era bailout when it bought Bankorp in 1992. Public Protector Busisiwe Mkhwebane recommended in the leaked preliminary report that Absa repay R2.25bn.

The ANCYL wanted legislation that would enable the establishment of a state-owned bank to be finalised before the end of the year.

Nzuza said Gordhan was not the only person who deserved the chop. A complete overhaul of Treasury was needed.

News24
http://www.news24.com/SouthAfrica/News/gordhan-must-be-redeployed-ancyl-20170217
 
It's simple. If Gordhan is removed all 2 million tax payers suddenly stop paying their taxes. Tax revolt FTW!
 
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The amaBhungane Centre for Investigative Journalism - Guptas "backed" Maine's R140k-a-month bond

A person with direct knowledge of the sale, speaking on condition of anonymity, told amaBhungane this week that Maine had originally submitted a cash offer, meaning the purchase was not dependent on him raising a bond.

A cash buyer usually has a limited period to come up with the money or a banl guarantee, well before the transfer is registered. In this instance, the source said, Pretoria lawyer Abdul Jaffer remitted the full R5.4 million, saying it came from the Bank of India.

Jaffer has often acted for the Gupta family. Company registration records show he was the original director of a number of their companies, indicating that he helped to register them.

A second source, who says he was briefed on aspects of the transaction when it took place, told amaBhungane that the Gupta family arranged with the Bank of India to grant Maine a bond because he was a “man of straw” financially and did not qualify.

The Guptas asked Jaffer to help, he said, and the bond registration was done by a conveyancer known to Jaffer, Shamsoodeen Omar. Deeds office records confirm a Bank of India bond covering the full R5.4 million purchase price was registered to Collen and Kelebogile Maine in mid-December, with Omar as conveyancer.

Omar, who according to deeds records has done previous bond registrations for properties related to the Guptas, referred queries to Jaffer. Jaffer did not deny his firm’s involvement in the sale this week, but would not discuss details, citing client confidentiality.

The bond document, obtained by amaBhungane, raises questions about how Maine can afford his new house, because:

Rather than the standard 20 years, the repayment term is four years. This more than doubles the monthly instalments – an unusual choice for anyone who may be stretched financially;
The bond document says the initial monthly instalment is R135 665. At the interest rate of prime plus 1.5% specified by the document, this will now be about R142 000 a month;
Using the affordability measure that home loan repayments may not exceed 30% of gross income, Collen and Kelebogile Maine should have jointly earned at least R450 000 a month before tax to have qualified for the loan – unless a third party bound themselves as security; and
R450 000 is roughly double President Jacob Zuma’s monthly paycheck.

In his former job as North West local government and human settlements MEC, Maine grossed a maximum of about R152 000 a month. His current ANC salary is likely to be considerably less.
Click to expand...
 
LazyLion said:
It's simple. If Horsham is removed all 2 million tax payers suddenly stop paying their taxes. Tax revolt FTW!
Click to expand...

As much as most of us would jump at the chance to carry out a tax revolt; it could never happen, unfortunately.
 
the youth must be in their minds, the reasoning and social skills of children.
 
The ANC Woman's League and ANC Youth League have never produced a sinlge positive program in South Africa that advances the plight of women or the youth. They are the proxies or Zupta. Each time Zuma gets into trouble, these reactionaries start barking for media coverage. The ANCWL and ANCYL are nothing more than propaganda instruments. Its time the media stopped reporting on their BS press releases and statements. It fake news!
 
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