Why Manyi hates the budget. Yes, seriously.
PETER BRUCE: Manyi puts his expensively clad foot in his mouth
Finance minister Pravin Gordhan did such a good job, in such appalling circumstances, that he pleased almost no-one
Mzwanele (Jimmy to you and me) Manyi didn’t much like yesterday’s budget. Especially he didn’t like the new tax bracket — 45% for people earning more than R1.5m a year. Now, a million rand may not be quite what it used to be — the Gupta minerals minister Mosebenzi Zwane has just acquired a company Merc for R1.2m — but it’s still real money and we will have to assume Jimmy falls into the new bracket. This is what he tweeted after the budget. Hold your breath ... and: “This budget is pro WMC & anti Blk Middle Class. Corporate tax isn’t rising but those who earn R1.5m p/a mostly black will pay a whooping 45%.”Finance minister Pravin Gordhan did such a good job yesterday, in such appalling circumstances, that he pleased almost no-one. And the speculation about his removal and a cabinet reshuffle will only intensify. Manyi by this morning was being touted as a possible replacement for trade & industry minister Rob Davies. That would work ... the DTI is there to attract investment after a...
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