There’ve been voices raised around the failure, twice, of finance minister Enoch Godongwana to pass a 2025 budget through parliament, each time trying in vain to slip in a VAT increase to cover for the ANCs inability to grow the economy. We should not, the argument goes, be flinging mud at an institution so central to our democracy, actually mentioned in the Constitution, whatever the politics may be. That’s just nonsense, veteran financial journalist and former Treasury spokesman Jabulani Sikhakhane tells Peter Bruce in this edition of Podcasts from the Edge. “To whom much power is given, much is expected,” says Sikhakhane. “We criticise the judiciary so why would you not criticise the Reserve Bank or the National Treasury? The judiciary is a creation of the Constitution too. I don’t think they should be protected. To disagree with the Reserve Bank or the Treasury about policy or the decisions they makes very healthy for democracy.”
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45:33
Is Helen Zille bad for the DA brand?
Former DA leader Tony Leon, in his new book, Being There, says DA Federal Executive chair and former party leader Helen Zille may have many positive qualities but that “I doubt the party brand is enhanced by her continued presence at the top of the organisation”. Peter Bruce asks him in this edition of Podcasts from the Edge whether he still believes that and whether he thinks the DA is right to fight to stay in the Government of National Unity despite being the principle cause of failure of the National Treasury’s two attempts to increase the rate of VAT. How does it fight coming local and national elections as part of a government run by the ANC?
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41:00
"Putin stole too much..."
“Over 20 years,” writer, investor and campaigner Bill Browder tells Peter Bruce in this Special Edition of Podcasts from the Edge, “Vladimir Putin and his friends have stolen a trillion dollars from Russia.” He has to distract his people or they’d lynch him and It’s why he can’t stop his invasion of Ukraine. Russia today, Browder says, is a much more totalitarian state than apartheid South Africa ever was. In this wide ranging discussion the author of Red Notice and, more recently, Freezing Order, reveals his favourite country in the world is South Africa. He has a home in Cape Town but dare not visit for fear that Putin would ask the South Africans to arrest him and hand him over. And he worries that they would.
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32:39
What Business Wants from a GNU
Business for South Africa chairman Martin Kingston tells Peter Bruce in this edition of Podcasts from the Edge that business would prefer the current Government of National Unity to stick together despite the current crisis over the DA’s decision not to support the budget. Business is deeply involved in Operation Vulindlela, the reform process inside the Presidency but, says Kingston, they’re not going to interfere in the politics.
"It’s much better in our view to stay the course,” he says. "We are deeply concerned that ... there is going to be either a minority government or a change in the composition of the GNU that undermines certainty and predictability, that undermines confidence, and confidence levels are now very thin, or where we can’t see the reforms that are taking place then of course we’re allow to express our opinion. What we’re not going to do is apply pressure, as has been suggested, to any of the parties. That would be wholly inapprpropriate. We work with the government of the day.”.
"What the investor community require is the certainty that key policies are going to be the subject of appropriate structural reform and that where decisions are taken they are subsequently implemented."
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37:00
Steel yourself...
South Africa’s steel industry is in the crosshairs once again, and once again for all the wrong reasons. Itac, the department of trade, industry and competition’s trade regulator, has been instructed by minister Parks Tau to conduct arguably the widest tariff review in its history, of imported steel. This as Arcelor Mittal SA (AMSA), the country’s only integrated steelmaker, is being rescued by the State. The review threatens widespread price increases on imports — everything steel-related is included — from iron ore to wheelbarrows. The problem, as trade expert Donald MacKay tells Peter Bruce in this edition of Podcasts from the Edge, is that while literally hundreds of imported products will be reviewed, Itac normally takes 27 months to complete just one review. Parks Tau wants the review done by July!
“The unintended consequences can be existential to some companies,” says MacKay, “You can’t do all of this and expect some companies to not fail. So maybe its not Mittal but there’s no way everyone comes through this… I think this review is too big. It should have been broken up.”
Peter Bruce, veteran South African newspaper editor and commentator, interviews the country's social and political leaders and experts in a weekly effort to explain what is actually going on in this complicated country. Bruce's interviews are about making events easy to understand for people with little time to listen.
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