Black Business Council must explain its attack on Treasury to the public - Gordhan

Finance Minister Pravin Gordhan is meeting the Black Business Council this afternoon to tackle the tensions that have been simmering between the organisation and the Treasury.

He wants the council to explain its attack on the Treasury to the public‚ saying the council had an obligation to disprove suspicions that they were part of a broader political agenda.

The council recently tore into Gordhan‚ accusing him of tabling a budget that fell short of President Jacob Zuma’s promise in his state of the nation address of radical economic transformation.

The minister has asked the council to explain its attack on an institution central to financial stability and credibility in and outside the country.

“We are meeting the Black Business Council ... their attacks are totally misplaced. They have to‚ I think‚ explain to the public why they attack an institution which has been central to providing financial stability in our country‚ financial credibility inside and outside SA which enabled us to borrow these trillions of rands that we actually owe and which has demonstrated over many years how to find money both through the tax administration system and the treasury system for the 17-million people who get grants‚” he said.

Speaking to journalist after making his submission to the fees commission in Pretoria on Friday‚ Gordhan said he hoped to persuade his detractors that they are misdirected.

He said the council had an obligation to remove any suspicion that they might “be part of a broader political agenda which has its own objectives”.