WORLDVIEW: Gordhan shows his true (socialist) colours. Be warned.

By Alec Hogg.After well documented ructions at Polokwane in 2007, you'd have thought South Africans would be avoiding alliances built on an "anyone but…" platform – the rallying cry which ejected ANC President Thabo Mbeki to usher in a far worse option..___STEADY_PAYWALL___.After yesterday's Budget Speech and the way it targeted the country's 100 000 highest skilled, most productive members of society, you have to wonder if we're seeing a repeat of that mistake. Ever since Nenegate rocked the economy in December 2015, the business community stood solidly behind reinstated Finance Minister Pravin Gordhan. Previously politically invisible heavy-hitting entrepreneurs Brian Joffe, Adrian Gore, Stephen Koseff, Mark Lamberti and Colin Coleman jumped wholeheartedly into the fray..They and many others of their ilk did so because, for them, Gordhan was the only member of Zuma's cabinet with the integrity and understanding of financial markets to turn around a disaster spinning out of control. In the 15 months since his reappointment, SA's business leadership has bust many guts supporting the one-time pharmacist against sustained efforts to eject him..But yesterday, Gordhan showed this support from the business community will not be reciprocated. The tax changes he proposed in Budget 2017 specifically targeted high income earners, exposing his decidedly socialist roots. With hindsight, it shouldn't have come as a surprise. Until as recently as 2009 – 19 years after the fall of the Berlin Wall – he was a leading light in the SA Communist Party. Gordhan has long championed an ideology of "inclusive growth" which is now back in fashion..Most tellingly, Gordhan is a huge fan of the Corbyn-esque British economist Tony Atkinson, whose death in January helped refocus attention on his long-ignored ideas. Atkinson spent four decades talking and writing about the benefits of massive wealth redistribution, mostly in a left-wing vacuum. Gordhan referred to him in glowing terms during his speech and spontaneously shared his admiration during the pre-Budget press conference. His targeting of South Africa's biggest income taxpayers was pure Atkinson..A more cautious Finance Minister might have edged up the top marginal rate by a percentage point, maybe two. Gordhan showed his intent by hiking it from 41% to 45% and raising dividend tax to 20%. He served notice this is only the start, telling us Atkinson believed a 65% marginal tax rate was the correct level..Pravin Gordhan is no friend of capitalists. He does not share their belief that economic growth is triggered by unleashing human potential through business creators and builders. Gordhan is a believer in promoting the collective above the individual. You have been warned.

WORLDVIEW: Gordhan shows his true (socialist) colours. Be warned.

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