Mr Deputy President
Governor of the South African Reserve Bank
Members of the Executive Committees for Finance
Fellow South Africans
Today I table:
The Division of Revenue Bill
The Appropriation Bill
The 2020 Budget Review
The 2020 Tax Proposals
This raises the risk of heavy rains and flooding, scientists pointed out, because warmer temperatures would lead to more water vapour in the world’s atmosphere.
7. "Suits" (2.6 million)
Mr President, in your State of the Nation Address two weeks ago you reminded us that our capacity to win is not diminished. We have it within ourselves to be the best in the world. Congratulations to Miss Universe Zozibini Tunzi, the Springboks, and the Proteas, who won while we were preparing this Budget.
Before democracy our growth was pedestrian. Indeed, between 1990 and 1992, the economy contracted for three years in a row.
In the five years from 2003 to 2008, growth averaged around 5 per cent, and South Africa was amongst the fastest-growing major economies. The unemployment rate improved by 5 percentage points.
“Ex Africa semper aliquid novi”
十年来，每年年初我都会从上一年企业界惊现的胡说八道中评选出个中翘楚。我常常乐此不疲。今年我发现那些委婉语、拧巴话、不知所谓的表达还有赤裸裸的恶心话在水准上普遍很不给力，所以我决定2016年度“金废话奖”(Golden Flannel Awards)要从一个比较来劲的奖项——大白话奖——讲起。
Achieving economic growth and higher employment levels requires a plan.
“Do you not know that those who run in a race all run, but only one receives the prize? Run in such a way that you may win.”
What are the conditions under which we must implement our plan to win?
Yet if “Mad Men” showed us anything (besides how cool a skinny suit could look, and that wide ties really were not a good men’s wear moment), it is that the decade chronicled was a complicated, often unhappy, occasionally destructive time.
Asia (excluding Japan) is expected to grow by 5.8 per cent in 2020. The Coronavirus is a source of uncertainty to this forecast.
Over 11 million new urban jobs, and a registered urban unemployment rate within 4.5 percent.
Against this backdrop we forecast that the South African economy will grow by 0.9 per cent and inflation will average 4.5 per cent in 2020.
These include, amongst others:
The impending change to the electricity regulatory framework
Persistent electricity problems will, however, hold back growth. Over the next three years, we expect growth to average just over 1 per cent.
1977：“俄罗斯型流感”H1N1感染人类1977: "Russian flu" H1N1 Infects Humans
TOWARDS AN ECONOMIC STRATEGY
通常冷静的分析师们早已习惯了汽车行业的缓慢增长，但是遇到特斯拉，他们就丢掉了一贯的谨慎。德意志银行（Deutsche Bank）的分析师罗德o拉切给该股设定了310美元的目标价格。无独有偶，摩根士丹利（Morgan Stanley）的分析师亚当o乔纳斯也将特斯拉的目标股价定为320美元，并称它是“世界上最重要的汽车公司”。
Strengthening the macroeconomic framework to deliver certainty, transparency and lower borrowing costs
Focusing spending on education, health and social development
Modernising “network industries” and restructuring our state-owned enterprises
买了15年的商品房 竟是经适房？ 业主拒交差价
Implementing a re-imagined industrial strategy
Focusing on job-creating sectors, such as agriculture and tourism
It's the summer of 1983, and precocious 17-year-old Elio Perlman is spending the days with his family at their 17th-century villa in Lombardy, Italy. He soon meets Oliver, a handsome doctoral student who's working as an intern for Elio's father. Amid the sun-drenched splendor of their surroundings, Elio and Oliver discover the heady beauty of awakening desire over the course of a summer that will alter their lives forever.
Today, we report on our progress. “We are moving forward!”
PRUDENT FISCAL POLICY
OUTLINE OF THE BUDGET FOR 2020/21
China's expenditure on technology research and development rose 10.6% to 1.57 trillion yuan in 2016, the fastest annual growth since 2014, as the nation increases its investment in new driving forces to stabilize the economy.
Budgets are complex, but the numbers are simple. The numbers show that we have work to do.
Justin Bieber剃发募捐 集得4万美金
Expenditure is projected at R1.95 trillion, or 36 per cent of GDP.
6、Social media addiction
1.《刺客聂隐娘》(The Assassin)与《疯狂的麦克斯4：狂暴之路》(Mad Max: Fury Road)，并列。侯孝贤和乔治·米勒(George Miller)导演了今年最好的两部商业片，二者都应该到你能找到的最大的屏幕上去看。
Indeed, there is some real personal income tax relief.
14. “Grandma” (Paul Weitz)
Hard-working tax payers, who earn on average R265 000 a year, will see their income tax reduced by over R1 500 a year.
In 2013, the yen fell 21% against the U.S. dollar, helping it to attract 10 million overseas tourists--including, despite Sino-Japanese border disputes in the East China Sea, many wealthy travelers from China.
This is not to take anything away from Tesla, which has demonstrated that it can create and manufacture a complex and sophisticated product with demonstrated customer appeal. But its own internal forecasts, as well as the swelling of its share price, are based on the expectation that the future will unspool in an orderly fashion identical to the recent past. That’s a dangerous assumption to make – for several reasons:
We are also proposing broadening the corporate income tax base. This additional revenue will be used to reduce the corporate tax rate in the near future to help our businesses grow.
Finance is one of top school Edhec’s core strengths, both in terms of teaching and research. The school in 2001 established the Edhec-Risk Institute to produce and distribute research on areas such as asset and risk management.
Two arrests have been made in connection to the shooting death of 14-year-old Lecent Ross, police said Thursday.
To support the property market, the threshold for transfer duties is adjusted. Property costing R1 million or less will no longer be subject to transfer duty.
In 2016, we've seen a whole lot of new gadgets join the Internet of Things (unfortunately, we've also seen them harnessed by hackers to bring downhuge swaths of the internet). From appliances to clothing, companies really want to sell you the tech that'll make your life "smarter," but sometimes it just makes it slower and dumber. Let's look back on some of the most ridiculous and useless internet-connected gadgets that were produced in the past 12 months.
其他人将想方设法利用技术来帮助人们减少上网时间。谷歌(Google)前雇员特里斯坦哈里斯(Tristan Harris)发起的“时光莫虚度”(Time Well Spent)运动正在吸引人气，该运动鼓励设计者理解他们所控制的微妙的心理力量，以解决其所称的“数字注意力危机”。据Recode报道，曾经在Pinterest和Facebook工作的蒂姆肯德尔(Tim Kendall)，计划成立一家专注于对抗设备上瘾的初创公司。
It's important to remember that even when the overall number of jobs goes down, some companies are still adding workers -- it's just that others are cutting even more.
We have increased excise duties to keep pace with inflation.
- 楼市已过青春期 专家称房价到明年初或可止跌
- 南京完成240个老旧小区整治 破落户变高大上
- 这个发型与米歇尔·法伊弗(Michelle Pfeiffer)的造型有点相似，但查斯坦让它更具锋芒。凯·乔治乌(Kay Georgiou)负责这个造型。她经常为马特·达蒙(Matt Damon)和格温妮丝·帕特洛(Gwyneth Paltrow)在电影中设计发型。
- 去低标号利于大水泥 对供需影响有限
The proportion of enrolled female students has increased steadily since the ranking began six years ago to 42 per cent among the most recent cohorts. This is low compared with the 48 per cent of female students on masters in management courses but compares favourably with the 35 per cent in MBA programmes.
In line with Department of Health policy, we will start taxing heated tobacco products, for example hubbly bubbly. The rate will be set at 75 per cent of the rate of cigarettes. Electronic cigarettes, or so-called vapes, will be taxed from 2021.
Baby Driver is so much fun, although it's not necessarily non-stop LOLs, it's definitely non-stop lowercase lols.
Despite this increase, the liabilities of the RAF are forecast to exceed R600 billion by 2022/23. We need to take urgent steps to reduce this risk to the fiscus and bring about a more equitable way of sharing these costs. One option is to introduce compulsory third-party insurance.
Welcome as they were, surging sales weren't the biggest news of the year. Detroit celebrated when General Motors (GM, Fortune 500) made Mary Barra the auto industry's first female CEO, then held its breath while Ford (F, Fortune 500) CEO Alan Mulally dithered over a move to Seattle and Microsoft. The old Big Three, complaining about straining available production capacity, made plans to expand and hire. Tesla(TSLA) fired up electric car sales and refused to play by industry's rules, while Google(GOOG, Fortune 500) pioneered a car that drives itself.
With China now not only “fully integrated”, but perhaps starting to retreat from this position as it brings more of its supply chain onshore, unless Africa can succeed in following China’s path, he adds: “I think we are going back now to a situation where we don’t think there is any particular reason for trade to grow faster than GDP.”
2014 sees the World Cup returning to South America for the first time since 1978, when a Mario Kempes inspired Argentina saw off the Netherlands, keeping up the record that only South American teams have ever won the tournament when it's been held there. So will 2014 be any different ? Will any of the big European nations, including the holders Spain, be able to do what no other team has managed in the past ? Or does any other continent have the strength to see off the challenge from a strong South American group ?
This year's best midseason trade action happened early:
REDUCING STRUCTURALLY HIGH SPENDING
But fiscal sustainability must be uppermost in our mind.
Say this about Bank of America chief Brian Moynihan: He certainly knows how to talk the talk. In his letter to shareholders, Moynihan went out of his way to thank U.S. taxpayers for making $45 billion in TARP funds available. He also described how he is working closely with 'policy leaders' on financial reform. Whether he can walk the walk - i.e., turn around BofA's fortunes - is another matter. While the company did repay its TARP loan in December, it is still sitting on billions of dollars of vulnerable residential and commercial mortgage debt - one reason the company spent 8,000 words discussing risk in its annual report.
British golden girl, Lily Donaldson - who has been a cover girl for the likes of Vogue - showcased her own sultry take on summer style, wearing a white semi-sheer, strapless dress to the event. The 30-year-old model looked simply sensational in the nearly transparent number.
Total consolidated government spending is expected to grow at an average annual rate of 5.1 per cent, from R1.95 trillion in 2020/21 to R2.14 trillion in 2022/23. This is mainly due to mounting debt-service costs. Non-interest spending declines on average over the MTEF in real terms.
She also said that in the longer-term the other “R” was “reset”, by which she explained that monetary and fiscal policies around the world still had a long way to go before they could be classed as normal. “The final reset is those structural reforms that are necessary in all corners of the world,” she added.
While D'Aloisio spends 80 percent of his work time retooling and improving Summly (which has already been integrated into Yahoo!'s iPhone app), the other 20 percent is devoted to imagining the expansive challenges he'll take on next. He predicts there will be summarization programs that do for video what Summly does for the written word. He has grand thoughts about using technology to aid learning and would like to help fellow autodidacts while disrupting the old educational models.
The total reduction is mainly the result of lowering programme baselines and the wage bill by R261 billion. These are partially offset by additions and reallocations of R111 billion. Of this, more than half, or R60 billion, is for Eskom and South African Airways.
Let me unpack the R261 billion in baseline spending reductions.
Although Guo has not given any timetable for her retirement, her announcement at December's East Asian Games about a possible one-year hiatus is a clear enough signal. From all evidence, her relationship with Fok seems to have entered another stage. Unless they truly believe that the Chinese lunar calendar warns against a "widow's year" in 2010, we might well see Miss Guo become Mrs Fok.
Adjustments are mainly in conditional grants for provinces and municipalities.
Make sure you've got a good plan for seeing that your children are cared for when you're scheduled to be in class, and when you need to study. It really is possible to raise children while you're going to school. People do it every day.
Over the three years, public transport spending is adjusted by R13.2 billion, mainly on allocations to the Passenger Rail Agency of South Africa and the public transport network grant. The planning and implementation of integrated public transport networks will consequently be suspended in the Buffalo City, Mbombela and Msunduzi municipalities.
The Best Global Universities rankings are based on data and metrics provided by Clarivate Analytics InCites.
While some of these savings are good for the fiscus, in many cases we are also making difficult and painful sacrifices. It is therefore important that we direct our constrained resources to areas that have a high social impact and have the largest economic multipliers.
THE WAGE BILL
Several other parties have support that is only slightly lower, including the centrist liberal D66, the Christian Democratic Appeal and leftwing GreenLeft.
Public servants do crucial work for our country, often in trying conditions. The governing party is a firm believer in the critical role of the state in development. For this reason, we need qualified, motivated and effective staff.
Prince Miteb's release, less than a month since his arrest, shows the speed at which Saudi Arabia wants to settle the corruption probe that involved the sudden arrests of royals and billionaires such as Prince Alwaleed bin Talal.
The 2018 Academic Ranking of World Universities released last Wednesday by Shanghai Ranking Consultancy reveals that 62 research universities in China have made their list of the world's top 500 universities.
Between 2006/07 and 2011/12, we were able to add about 190 000 employees. However, at the same time government wages also increased significantly.
Statistics showed that Tibet had around 590,000 rural poor by the end of 2015.
Madam Speaker, we cannot go on like this. Classroom sizes are growing, hospitals are getting fuller and our communities are becoming increasingly unsafe.
据Digitimes的消息，更大尺寸的iPhone 6将采用“台积电（TSMC）生产的20纳米处理器”。此前曾有报道称，新款iPhone的屏幕尺寸将和三星Galaxy 4的屏幕一般大小（不到5英寸）。
But he sees his time in the classroom as invaluable, crediting it with having given him a resilience that he now draws on in the latest phase of his career.
The employer has tabled an agenda item on the management of the public service wage bill at the Public Service Coordinating Bargaining Council, the focus is to discuss containment of costs in the final phase of implementation of the current wage agreement.
There is more than one way in which this goal can be achieved.
WASTEFUL EXPENDITURE AND CORRUPTION
The number of such applications in Beijing last year increased 426% from that of 2015.
The President’s instruction requires a dynamic and appropriate mix of quantity, quality, capacity and capability in the administration of the state.
We are moving forward with reforms to the procurement system with a focus on value for money and maximising the quality and quantity of services. Cabinet approved the publication of a new Public Procurement Bill.
We will propose a new law to stop excessive salaries in these public entities.
We are already acting on fruitless and wasteful expenditure. Last year, this House amended the Public Audit Act to empower the Auditor General to:
6. Data scientist
Take binding remedial actions
To show the determination of the executive to deal with runaway costs, we will implement a number of steps.
- Abolishing the current wasteful subsidence and travel system
- 天津推动住房租赁市场发展 加强企业自持租赁住房管理
- LED照明企业普遍亏损时 为何飞利浦LED业务在增收？
- 宝山区去库存效果最好 部分房企放缓推盘节奏
APPROPRIATE MONETARY POLICY
The twin of our fiscal framework is appropriate monetary policy.
Pete Rossi can count on one hand the number of weeks out of the year that he works more than 50 hours. But the rest of the year, his job as an actuary with the Department of Defense, provides a good living with a minimum of stress.
We asked FlightAware to look at arrival delays, rather than departure delays, because it is sometimes possible for airlines to make up time lost on the ground while the plane is in the sky.
“With 75 percent of our flights touching the Northeast, either New York or Boston, one delay in the morning can affect the entire line of flying for that airplane, ” said Jenny Dervin, a JetBlue spokeswoman. And, the Northeast is particularly affected by the kind of winter storms that delay flights.
"I want to tell you what happened I opened the envelope and it said Emma Stone, La La Land and that is why I took such a long look at Faye and at you. I wasn't trying to be funny. This is Moonlight for best picture," Beatty told the shocked crowd as he explained the blunder.
“Policymakers around the world are cognisant of the impact the Fed decision will have and are worried, which makes us worried,” said Simon Lue-Fong, head of global emerging debt at Pictet Asset Management. “People are saying the decision is priced in but seeing as no one knows exactly what will happen how can that possibly be true.”
In the Robot World Cup Soccer final on June 30th the Dutch robots weren’t up against the Chinese team “Water” from Beijing. Within a minute the Chinese team scored a goal. The Dutch made an equalizer before half-time, yet in the second half team Water scored again.
For our Aloe Ferox to grow to its full potential, we need to do things that will help it in the medium to long-run – for example, augmenting the soil with the right amount of organic manure, providing the right amount of sun and the correct amount of water. For a fast-growing economy we need to make sure our children are well educated, our people are healthy and our money is invested properly.
Consequently, the largest spending areas will be learning and culture, which receives R396 billion followed by health R230 billion, and social development with R310 billion.
Here is my best guess - and that's all it is - for how the U.S. economy and markets will look in 2010:
Transfers to provinces support schooling for 13 million children and healthcare for 49.1 million South Africans. It is in this context that taking forward consultation on the NHI is important.
Finance and real estate made up the backbone of home-grown brands, with 38 and 23 companies coming into the list respectively, and accounting for 30 percent of the brands on the list.
The Department of Higher Education and Training will reallocate existing funds to undertake a feasibility study for the establishment of a new university of science and innovation in Ekurhuleni.
I hope you have a most happy and prosperous New Year.
THE INFRASTRUCTURE FUND
This will bring in some money and help you make connections, Frederickson says. It can also help you polish skills that you can lose while out of work: "being fast, multitasking, answering questions quickly and succinctly."
In fact, capital spending is the fastest growing component of non-interest spending. This spending is complemented by the Infrastructure Fund. Over the next three years the Development Bank of Southern Africa will package blended finance mega-projects of least R200 billion. Government has committed R10 billion over the next three years.
Company: (Wonderbag) Natural Balance
To date, Jobs Fund projects have created more than 175 000 permanent jobs, and helped 21 000 people into internships and created 59 900 short term jobs. Of these, 65 per cent went to youth.
The upshot: The world's largest economy can still function as an oasis in a desert despite the claims of doomsayers that those days are over.
The upcoming launch will mark the five-year anniversary of the sinking of a South Korean warship in 2010, with the loss of 46 sailors. The South pinned the blame on the North and effectively froze all inter-Korean trade and investment ties.
We intend to make this intervention a resounding success.
8. Taxi driver
Grants reduce inequality and protect the most vulnerable in society.
I am happy to announce that grants are adjusted as follows:
R80 increase for the old age, disability and care dependency grants to R1860 per month
R40 increase for the foster care grant to R1040 per month
Changing the way we provide social grants has generated about R1 billion per annum in efficiency savings, which will be partly used to raise the daily subsidy per child.
Madam Speaker, the next component of our plan is to modernise network industries and to restructure the state-owned enterprises.
Government will do “whatever it takes” to ensure a stable electricity supply. As I said, it is our number one task. We have allocated R230 billion over ten years to achieve the restructuring of the electricity sector.
The highest scoring tournament: 1994 in theUnited Stateswhen 24 teams averaged 2.97 over 52 matches.
This is BBC Sherlock, so your Watson isn’t stupid. He's rather smart in his own way and insecure about his sexuality (probably straight).
Determinations to implement the Integrated Resource Plan of 2019 are finalised and await the concurrence of the National Energy Regulator.
SOUTH AFRICAN AIRWAYS
As the stars' private jets swooped in, the internet was going mad for 'the Dad bod'; the slightly flabby male physique was trending and there were plenty of examples on screen. Deborah Cole of AFP noted a “sweating, panting and shirtless” Gerard Depardieu in Valley of Love and a flash of Joaquin Phoenix's “tubby tummy” in Woody Allen's Irrational Man. When Colin Farrell strode the red carpet for the premiere of The Lobster, he looked his usual trim self – but in the film he is distinctly paunchy. To add some girth for the role of a lonely singleton in Yorgos Lanthimos' absurdist black comedy, Farrell went on a massively calorific diet that included drinking melted ice cream, he told the Hollywood Reporter. Eating “two cheeseburgers, fries and Coca-Colas, and two slices of chocolate cake at 10am is not that fun,” he said. “And I love cheese?burgers."
You might want to hope that people shared these articles as a joke. I want to hope that. But we can’t: the analysis points to a recent BuzzFeed and Ipsos Public Affairs poll which found that 75 percent of Americans (84 percent of Republicans and 71 percent of Democrats) were easily tricked by fake headlines. What a fantastic year for fact-checking and rational thought and Mark Zuckerberg’s self-awareness.
Businesswomen are booming in Asia: The whole region makes a strong showing, from China and Singapore to New Zealand and Thailand. Entrepreneurship is on the rise: see Zhang Xin (No. 50) , Sun Yafang (No. 77) and Solina Chau (No. 80). And Asian region women are showing their political might, from newcomer Park Geun-hye, the South Korean president (No. 11) and Burmese dissident and parliamentarian Aung San Suu Kyi (No. 29) to Australian PM Julia Gillard (No. 28) and Thai Prime Minister Yingluck Shinawatra (No. 31).
德系三巨头：由于奔驰的几款低价产品不可避免地会损害它“要么最好，要么什么都不是”(the best or nothing)的商誉，该公司也开始陷入低迷。而即将推出的新7系轿车则会进一步巩固宝马在美国富人圈中的地位。另外，起价30,795美元的奥迪A3，很可能会使奥迪的销量较2014年增长15%，新款Q7也将进一步提高奥迪的利润。
The writer is a senior associate at the Carnegie Endowment and a former World Bank country director for China. Read other predictions for the world economy, politics and finance in 2012 at www.ft.com/thealist
OPENING UP OUR MARKETS TO TRADE WITH THE REST OF THE CONTINENT
In this ranking of 90 European business schools, Insead in France leads the field for full-time and EMBA programmes, while the University of St Gallen in Switzerland is top for MiM. Iese of Spain and IMD of Switzerland were ranked number one for customised and open-enrolment executive education programmes respectively.
My arms are wide open for you this New Year.我张开双臂，盼与你共度新春佳节。
We want to encourage South Africans abroad to keep their ties with the country. We will raise the exempt amount for foreign remuneration to R1.25 million. We will phase out the administratively burdensome process of emigration through the South Africa Reserve Bank.
To implement the reimagined industrial strategy:
6. “Taxi”(Jafar Panahi)
Industrial business incentives worth R18.5 billion will create and retain approximately 56 500 jobs
批评人士一直急于指出，库克对新产品开发的参与度不如他前任那样高，而且当他走上舞台介绍新品时，也无法引起同样的兴奋。但库克知道自己的短处，他从健身和时尚界招揽人才，组建了一支新团队，其中包括前博柏利(Burberry)首席执行官安杰拉?阿伦茨(Angela Ahrendts)，以及工业设计师马克?纽森(Marc Newson)。
R6.5 billion is allocated for small business incentive programmes of which R2.2 billion will be transferred to the Small Enterprise Development Agency
Classic cars:Prices plummet as an enormous supply of post-war classics, hidden away on an off-shore island, becomes available for the first time in 50 years. Collectors are especially eager to find Packards, Studebakers, Hudsons, Nashes, Kaisers, and Henry J’s. More’s the surprise because all of the cars are in running condition and are used as daily drivers.
LOWERING THE COST OF DOING BUSINESS
Steps are being taken to address South Africa’s lagging productivity growth and reduce the cost of doing business.
Wang Dengfeng, director of the Physical Education, Health and Art Department under the Ministry of Education (MOE) and Vice Chairman of the China Football Association, was quoted as saying that football experts are designing curriculums for more than 360 training programs in primary and secondary schools.
The Competition Amendment Act came into force on July 2019, strengthening the Competition Commission’s powers. The Commission has conducted inquiries into a number of sectors to strengthen competition.
Accounting and finance grads will be in demand too, the poll says. Note to college students already looking ahead to the summer: 52% of employers in the survey said they prefer to hire graduates with internship experience.
2. 达美乐（Dachis） 品牌喜爱度：-11%/排名：62
The spectrum licensing plan was released in November, preparing the way for auctioning high demand spectrum. ICASA will be appropriately capacitated for this. A voucher system will be introduced to allow households to acquire digital devices.
Over the medium term we will support Agriculture and Tourism. Government has allocated R495.1 million to the Department of Agriculture, Land Reform and Rural Development to improve compliance with biosecurity and support exports.
To support tourism, we will engage with the tourism industry on formalising the tourism levy.
Madam Speaker, fighting corruption is a priority of this Administration.
This will enable the appointment of approximately 800 investigators and 277 prosecutors who will assist with, among other things, the clearing the backlog of cases such as those emanating from the Zondo commission.
D'ALOISIO BEGAN designing iPhone apps nearly the moment the app store opened in 2008. He was 12 years old, working on a Mac in his bedroom in the London district of Wimbledon. Because he was too young, he signed up for the Apple developer's license using his father's name. He'd taken no formal computer science classes at school, and neither of his parents (Diana and Lou, a lawyer and a business executive, respectively) knew much about tech. Instead, he learned how to program almost entirely by himself, scouring websites and watching instructional videos.
OFF-BUDGET INITIATIVES TO GROW THE ECONOMY
Working with the financial sector, a pilot of the Help to Buy scheme has supported over 2 000 families to buy their own homes. For every R1 subsidy provided by government, the scheme crowds in R8 from the private sector. In a single year, the Help to Buy scheme has supported nearly R1 billion in new lending.
Last year, this House passed legislation which will allow state-owned enterprises to apply for banking licences. In July 2019, I tasked the Deputy Minister of Finance with the responsibility to undertake the state bank project. Madam Speaker, I am pleased to inform the House that preferred options for the establishment of a bank are now ready.
We will also consolidate the currently fragmented system of national and provincial Development Finance Institutions.
SOVEREIGN WEALTH FUND
Mr President, a Sovereign Wealth Fund is an important long-term tool for saving and investment for future generations. It can also contribute to strengthening the fiscal framework. We must learn to save during the good times, and a Fund can play an important role as a counter-cyclical fiscal tool.
As the calendar flips to December it’s not too early to think about the inevitability of tanking. Who should do it, who should wait, and who shouldn’t ever consider it. Flanns and Zillz discuss.
If 2017 was the year of fake news, 2018 is shaping up to be one of fake data. And just as fake news comes in many varieties — real news dubbed by the US president as fake, as well as nonsense gaining huge audiences on social media — so does fake data.
AN EFFICIENT AND CAPABLE STATE
The National Development Plan calls for a capable and efficient state that creates the right environment for the private sector to flourish.
SARS is an integral part of the capable state. We are focused on re-establishing institutional integrity and fighting criminal activity. Just this past week two individuals were convicted for up to 168 years’ imprisonment for tax fraud.
For all South Africans, the “state” is their municipality.
Mr President, the National Treasury asked members of the public to provide tips to guide our thinking as we shaped this Budget. Today we are joined by Ms Akhona Mgwele from Gauteng who advised us to “support greater local economic development in municipalities.” We agree with her!
Captivating, funny and possessed of a surprise-filled zig-zag structure that makes it impossible to anticipate where it's headed, this is a deeply humane film that, like the best Hollywood classics, feels both entirely of its moment and timeless.
Apple Chief Executive Officer Steve Jobs holds the new " iPad" during the launch of Apple's new tablet computing device in San Francisco, California, in this January 27, 2010
The Minister of Cooperative Governance and Traditional Affairs and I have agreed that our officials will find ways to use the allocations made through the Municipal Infrastructure Grant to ensure that municipalities not only build new infrastructure but also maintain the infrastructure they already have.
The 15 ranked online MBA programmes provide flexible study options for working executives, who can expect to graduate with the same qualification as their full-time, residential MBA counterparts.
Rossi, 31, spends his days calculating the future costs of the Pentagon's pension, health and education benefits, but says his job involves more than just crunching numbers for spreadsheets. He communicates with other government agencies and brainstorms with colleagues about financial models.
8.A New iPhone
The stomach-churning finding is not the first to be exposed in the area. Police in Guangxi, along China's border with Vietnam, have stepped up anti-smuggling operations over the last year and have raided seven illegal food processors.
All these steps build a capable state.
Madam Speaker, there are a number of entities that report to the Ministry of Finance.
In short, some New Yorkers dislike their neighbors almost as much as they do their landlords. Co-op and condominium boards beware: You do not fare much better.
The excitement was triggered by a Reuters story that cited documents about the potential transaction as the source of its information. Samsung actually has made at least one play for BlackBerry BBRY -19.77% before, in 2012. As to this latest rumor, the alleged takeover target was the first to refute that a deal is in the works.
A total of 1,300 fugitives suspected of economic crimes, 347 of whom were corrupt officials, returned to China from abroad to face justice last year, according to the country's top discipline watchdog.
The country’s money laundering system is currently undergoing a peer review, which will help strengthen the fight against illegitimate and illegal flows. The South African Reserve Bank will in future play a more integral part in this fight.
In addition to meeting quality standards, imported products must be correctly labeled in Chinese, according to national regulations.
The National Treasury will take steps to strengthen the budget process.
Winning is not easy.
Less than two years before winning the World Cup, the Springboks lost 57-nil to the All Blacks. Miss Universe did not win her first attempt at Miss South Africa.
To paraphrase Charles Dickens, who I quoted in my first address as Minister of Finance, we will make these the best of times.
A word of appreciation to the Deputy Minister of Finance, The National Treasury Director General and his team.
It grows naturally into the mold's shape.
My gratitude for the Parliamentary Committees who work tirelessly to process the legislation accompanying the Speech.
“With confidence we lay our case before the whole world, whether we win or die, freedom will rise in Africa, like the sun from the morning clouds”.
Mudzimu fhatutshedza Afurika
What the average person earns in different countries around the world (Supplied by LoveMoney)