Reappointed Finance Minister Pravin Gordhan has admitted that giving David van Rooyen the job was a miscalculation. "There are times when you have to admit that there was a miscalculation and the need for the review of the decision and the need to move on to a new scenario . . . " Gordhan said.The sacking of Nhlanhla Nene shook the markets and put the rand into a nose-dive.The stock market dropped by 2.95% and bond yields shot up by 150 basis points.Gordhan, who was finance minister from 2009 until last year, was speaking soon after his appointment was announced. The JSE and the rand rallied yesterday.He refused to divulge details on when he was approached for the position, saying this was between him and President Jacob Zuma."I was approached over this weekend, clearly. I then had to consult my family. We had thought we were going to retire quietly one of these days."Gordhan said he would move swiftly to stabilise SA Airways and intended speaking to chairman Dudu Myeni soon.He said good governance was non-negotiable."It's high time individuals stop playing with state entities ... as if they were a personal toy which you can extract from whenever you feel like it," he said.He said that, although many state-owned entities were in a strong financial position, the performance of others was weak. He said work had begun to develop a uniform legislative framework to regulate state-owned entities."We cannot avoid the necessity of wide-ranging reforms to put them on a sustainable financial footing, and where good governance is non-negotiable," he said.Gordhan assured investors that there would be no fiscal policy shift and that the government was aware of the effect of Zuma's flip-flopping on the economy."As president Zuma indicated, when a decision triggers developments such as these, that a democratic government has a duty to listen and respond appropriately," he said.Gordhan emphasised that the government would "stay on the course of sound fiscal management", adding that curbing spending was sacrosanct.The only way to have extra expenditure was to raise extra revenue, he averred...