Mr Deputy President
Governor of the South African Reserve Bank
Members of the Executive Committees for Finance
Fellow South Africans
4. We can’t go into detail on this matter.
Today I table:
The Division of Revenue Bill
The Appropriation Bill
The 2020 Budget Review
The 2020 Tax Proposals
"He (Premier Wen) underlined that China effectively countered the severe impact of the global financial crisis and has maintained steady and fast economic development. This allowed China to become the second-largest economy, almost doubling its GDP in five years."
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.
Many believe the population is no longer a major threat to China's resources and environment. Instead, China's population challenges have shifted to low birth rates, an aging society and a widening gender imbalance. China has already experienced a shortage of skilled workers in places like the Pearl River Delta, so it might not be long before we see major reforms.
“Ex Africa semper aliquid novi”
A vibrant ETF market would depend on the evolution of fee-based distribution networks. Mark Talbot, managing director of Asia-Pacific at Fidelity International, says the distribution infrastructure is holding back retail demand.
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?
Asia (excluding Japan) is expected to grow by 5.8 per cent in 2020. The Coronavirus is a source of uncertainty to this forecast.
Cristiano Ronaldo, the superstar footballer who earned 61 million pound last year, usurped long-term leader Floyd Mayweather Jnr into first place. The retired boxer, who fought just once in the last 12 months, earned pound 30 million.
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.
10. "Arrow" (2.2 million)
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.
Premiered in August, the 48-episode TV series is a fictional story, with a plot centering on struggles and romance during the Qin Dynasty (221-206 BC).
TOWARDS AN ECONOMIC STRATEGY
Like a lot of critics, I chafe against the arbitrariness of lists even as I recognize their utility. Since I can never stop at 10 — how could I, when something like 900 movies were released in North American theaters? — I picked 15 to match the year, ranked them and ended up fudging that count. So maybe technically it’s a top 20. The slots with more than one title aren’t ties, but double features, paired movies that complement, contend with or amplify each other’s best qualities.
Consoles: Xbox One
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
Implementing a re-imagined industrial strategy
Focusing on job-creating sectors, such as agriculture and tourism
The dollar value of China’s exports fell markedly more than expected last month and import growth more than halved, while revisions to November data erased what had appeared to be a long-hoped-for return to growth for outbound shipments.
Today, we report on our progress. “We are moving forward!”
PRUDENT FISCAL POLICY
OUTLINE OF THE BUDGET FOR 2020/21
Budgets are complex, but the numbers are simple. The numbers show that we have work to do.
Who greets a member of any royal family, however young, with a high five?
Expenditure is projected at R1.95 trillion, or 36 per cent of GDP.
Indeed, there is some real personal income tax relief.
Hard-working tax payers, who earn on average R265 000 a year, will see their income tax reduced by over R1 500 a year.
Hitting the Top 100 for the first time, French fashion brand Dior and Silicon Valley automaker Tesla Motors Inc. were at Nos. 89 and 100 respectively.
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.
Still, the optimistic view is that several roadblocks to recovery -- an over-indebted consumer, a moribund housing market and shellshocked banks -- are no longer holding back hiring. Barring an unforeseen shock to the economy, this could mean 2013 will be another year of slow but steady growth.[qh]
But most overseas islands are sold as freehold properties.
Quanta Computer, ” in October. Samsung is also reported to be working on a 12 to 13-inch tablet, and it seems evident that “these large-size tablets will greatly impact ultrabook demand.” This “iPad Max” will be a defacto laptop with the addition of new cases with integrated keyboards and batteries and could well become a mainstay for high schools and college students who need better content creation tools than thos offers on existing iPads and iPad Minis.
We will take comprehensive steps to improve product quality.
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.
We have increased excise duties to keep pace with inflation.
- 东莞家具业谋转型 线上线下融合齐发力
- 时间：2010-01-26 编辑：vicki
- 租客呼吁提供长租合同 专家建议规范差价限定高涨幅
- 宜华木业控股海尔家居 推进“互联网+泛家居”布局
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.
The website claims that "the more you sip, the smarter you (and the bottle) get," but in reality the more you sip, the drunker you get and the less information you'll retain.
Management and leadership skills are just one aspect of EMBAs. “It actually made an entrepreneur of me,” says one graduate. Nearly a third (31 per cent)of graduates have set up their own company, or are about to, since enrolling on their EMBA four or five years ago. FT data show that 91 per cent of the businesses are operating today.
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.
While the WeChat use of the "post-90s" generation has slightly decreased, from 94.1 percent to 86.6 percent.
“The US economy is likely to grow by 3 per cent plus this year as well as next year.
In terms of the volume of exports from emerging markets, Mr Baweja would not rule out growth of around 4-5 per cent. But while this would represent a modest improvement on recent years, growth at this rate would still be “in the bottom quartile over the long-term distribution, even maybe the second decile”, given that median growth has been about 7 per cent a year over the past 25 years.
REDUCING STRUCTURALLY HIGH SPENDING
But fiscal sustainability must be uppermost in our mind.
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.
Against: Opening so early in the year outside of awards season could hinder its chances.
It's quite an odd question, because Ireally wanted to start writing when I read lots of Stephen King stories. Hisstories were quite astonishing and interesting.
Similar trends have been seen at other Cup matches, though no polls were carried out previously.
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.
I expect more companies to develop leaders who know how to manage networks — not just the traditional internal network of employees, but more loosely connected webs of suppliers and contractors, managed remotely via the internet and social media.
Adjustments are mainly in conditional grants for provinces and municipalities.
McDonald's (MCD, Fortune 500), the all-American fast food Mecca, announced it would put $20 billion towards share repurchases and dividends Thursday, jumping on board the buyback trend that has boomed over the past 18 months.
It is the continual shrinkage of components that have unleashed the explosion of computing power and enabled these gadgets to be accessible to people across the world.
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.
Gitanjali said she wanted to further refine the device so it could eventually go on the market.
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
Those born after 1995 tend to make more varied choices and are likely to combine work with their hobbies.
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.
scary puppy like head tilts and glares
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.
Madam Speaker, we cannot go on like this. Classroom sizes are growing, hospitals are getting fuller and our communities are becoming increasingly unsafe.
Still, there are bulls in the market.
A total of 3,077 new cases of HIV infection took place in colleges and universities across China in 2017, according to the National Health Commission (NHC) at a press conference on Friday.
Mr. Murray came to her with a full beard, so she was able to shape it into the thick, bushy mustache pictured here. “Bill has never worn that look before,” Ms. Hannon said, “so it was lovely to get something new.”
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.
The commerce ministry data showing plummeting real estate investment follows an overall 53 per cent rise last year to a record $33bn, according to separate data from JLL, a global realtor.
WASTEFUL EXPENDITURE AND CORRUPTION
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.
《前第一夫人要求伊斯兰教变得宽容并支持女权》(A Former First Lady Presses On for a Tolerant, Feminist Islam)
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:
She's the perfect choice for this role, having hosted the Oscars last year, and previously hosted the Grammy Awards and the Primetime Emmys.
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
- 长租公寓与“惜租”的房东 租金上涨怎么“治”？
- China’s retail sales softened as industrial production and investment held more or less steady in spite of a weaker showing from exports last month.
- 外来卫浴入侵国内市场 国产卫企难招架？
- 借力税制设计 确保“房住不炒”
APPROPRIATE MONETARY POLICY
The twin of our fiscal framework is appropriate monetary policy.
Will Washington's tentative truce continue?
With a growing need for someone to block and tackle Apple’s raiders and (given its tax investigation in Europe) regulators, Mr Cook’s focus on people, strategy and execution — rather than products — finally started to look like an advantage.
Did you write The Lego Batman Movie off as kids-only? Biggest mistake ever. This movie is a witty feat of hilarity, full of dry humor and moments of comedy gold. Basically, if you like Will Arnett in Arrested Development, you will like this.
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.
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.
Anyone who doesn't feel they can tap into their inner-Picasso to create amazing drawings needn't worry. The study demonstrated that it wasn't the quality of the doodles and drawings that helped participants recall given words. Drawing a simple outline of a banana offered just as much benefit to the memory as a perfectly drawn piece of fruit. Additionally, the study found that participants only needed to spend a few seconds on their drawing to receive a significant boost to their ability to recall the word. The researchers plan to take their research a step further in the future by introducing more complex words and ideas and measuring the memory success of participants asked to recall those intricate thoughts.
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.
THE INFRASTRUCTURE FUND
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.
Texas was one of the first states to emerge from the recession and it continues to attract companies on the basis of its low tax burden, predictable regulatory environment and skilled labor force. Texas employment is expected to expand 3% annually through 2017, according to Moody’s. (Arizona’s forecasted rate is a microscopic 0.04% better). Texas has attracted a lot of attention from California companies and Governor Rick Perry has not been shy about contrasting the business climates of the two states. California firms EBay and Electronic Arts have both chosen Texas for large expansions in recent years. Austin has been a hotbed of activity this year with Accenture
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.
Best wishes for the holidays and happiness throughout the New Year.
Despots use the former as an excuse for repression and the latter to demand absolute obedience.
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.
Create a space that helps you make the most of your study time. Do you need absolute quiet or do you prefer to have loud music playing? Do you like working at the kitchen table in the midst of everything or do you a quiet room with the door shut? Know your own style and create the space you need.
Likewise, if the 11 countries led by Japan left in the TPP manage to salvage a deal following the US exit that could provide some balance in the region.
We intend to make this intervention a resounding success.
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
China has attained key targets outlined by the 12th Five-Year Plan by the end of 2015 to become a genuine giant trader, Gao said at a national meeting on commerce work.
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 awards returned Ms. Lawrence, a winner last year for Russell's 'Silver Linings Playbook,' to the stage for an acceptance speech-something she said was no easier a year later.
The number of people living in poverty in rural areas was reduced by 12.4 million.
Get ready to see ads from the neighborhood pub on Twitter
Determinations to implement the Integrated Resource Plan of 2019 are finalised and await the concurrence of the National Energy Regulator.
One of the main strengths of the LBS programmes is the wide range of students from different countries. More than 90 per cent in its 2015 MBA cohort were from overseas, coming from about 60 different countries.
SOUTH AFRICAN AIRWAYS
Sales & Marketing
Despite being the most heavily nominated stars of the evening, Taylor - who did not attend the event - was overshadowed by 19-year-old singer Shawn who cleaned up at the awards show.
Learn to tweet. Your boss expects it
OPENING UP OUR MARKETS TO TRADE WITH THE REST OF THE CONTINENT
Her mother discovered the debits on Jan 30, China Central Television reported.
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:
The reading is just below economists' forecasts but it's not altogether surprising. When the People's Bank of China unexpectedly cut interest rates last month, some analysts said the move was likely a pre-emptive one and that a spate of weak data was likely ahead. Well, here it is.
Industrial business incentives worth R18.5 billion will create and retain approximately 56 500 jobs
R6.5 billion is allocated for small business incentive programmes of which R2.2 billion will be transferred to the Small Enterprise Development Agency
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.
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.
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.
The system sold around 1.1 million tickets during the 2012 Spring Festival travel rush. Last year it sold 11 million over the same period.
The system for ensuring responsibility is taken for poverty elimination will be effectively enforced, the strictest possible evaluations and assessments of poverty alleviation will be carried out, and stern measures will be taken to address deception, falsification, and the manipulation of numbers in poverty elimination work. We must see that the results of our poverty elimination earn the approval of our people and stand the test of time.
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.
But the statistics bureau attributed the overall rise in CPI chiefly to a base effect resulting from low prices a year prior.
Her mother Stephanie Boyden, 32, says Bobbi is a 'diva' who runs to the stage when her name is called - and screams when she has to leave.
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.
Chinese insurers saw their profits implode in the first six months of 2016.
A 9.1-percent drop in the annual average density of fine particulate matter (PM2.5) was seen in 74 major cities.
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.
While people in first-tier cities are under more pressure, smaller cities may not be the ideal place to live either, according to the 2016 Annual Report on Social Mentality of China by the Chinese Academy of Social Sciences.
Prof Cusumano sees all this as evidence that the company is opening up more, including in allowing developers to customise more of its iOS software.
The reason why Blake looks the same today as he did in high school is because he's only four years removed from his high school years. Just imagine how monstrous Blake will look with another year or two of NBA training under his belt.
But yeah, of course they should tank. And so should the Kings. Again. And the Heat. And the Magic. These are mediocre teams, at best, without high upsides even in the most optimistic projections.
Forbes found 1,810 billionaires this year, down from last year's record of 1,826. The aggregate net worth of the billionaires was 6.48trillion dollars, 570billion dollars less than last year.
Forget giving at least two weeks notice, finessing an exit interview, and tactfully networking your way out the door. Some people are in too big a hurry for any of that.
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.
A devastating financial crisis led business owners and corporate executives to be especially wary about adding staff or investing in new equipment. Some worry about risks from Washington or overseas. Others are seeing consumers maintain their slow-but-steady spending, providing little incentive to deploy their cash stockpiles.
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!
《今日美国》(USA Today)说，对大多数城市来讲，就业复苏即使能实现，也得是在好几年过后。浏览知名分析师梅瑞迪斯?惠特尼(Meredith Whitney)新书《州的命运》(The Fate of States)时你会看到，她提醒说，“过多的养老金会挤出教育支出等自由派目标，也会挤出保守派希望实现的减税目标”。
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 women in tech: Tech takes a second turn as a category on the Power Women list. Five tech women made the top 25 this year, including Facebook’s Sheryl Sandberg (No. 6), Rometty (No. 12) and HP’s Meg Whitman (No. 15). There are 16 tech women in total, including also Susan Wojcicki, SVP of ads at Google (No. 30) and Sun Yafang, chair of Huawei Technologies (No. 77).
Although Downey has a few movies coming out next year, they’re much smaller than his superhero films. He won’t see another huge payday until 2015 when Avengers: Age of Ultron hits theaters.
All these steps build a capable state.
Madam Speaker, there are a number of entities that report to the Ministry of Finance.
门萨智商测试的参试者必须是超过十岁半的儿童，测试包括两部分独立的行业标准评估。一部分主要测试语言推理能力;而另一部分包含表格和图形，测试视觉和空间逻辑能力。而来自坦姆赛德的妮诗在第一部分卡特尔III B测试中得到了最高的162分，在第二部分的文化能力量表(Culture Fare Scale)中得到了142分，该测试结果使她名列英国智商最高的前1%人群，而门萨测试成绩前2%的参试者都可以成为门萨会员。
I'm not worried about Philly, Phoenix, or Minnesota. They're young, they're rebuilding. If they make strides, great. If not, take another high pick. The Nets are the Nets and we should talk about them in a minute.
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.
Kate Winslet is another Brit who’s opted for the loo for her best actress Academy Award, which she was awarded for her complex role as a concentration camp guard in the 2008 adaptation of Bernhard Schlink’s novel, The Reader.
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.
Chinese growth figures have long been known to be artificially smooth, but now the economy is easily the world’s largest on purchasing power exchange rates, the statistical massages have wider consequences.
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.
在苹果(Apple)的蒂姆库克(Tim Cook)支持AR后，该技术可能是更大的机遇。苹果最新操作系统及新款手机iPhone X纳入了AR技术。
《沃兹汽车》将于1月15日在底特律一个与北美国际汽车展（North American International Auto Show）联合举办的仪式上颁发十大最佳引擎奖。
My gratitude for the Parliamentary Committees who work tirelessly to process the legislation accompanying the Speech.
As a result, 39 percent of the post-90s generation tries to avoid the negative effects of mobile phone use through measures like turning off app notifications, intentionally limiting the frequency of social media interactions and staying away from social media entirely in certain situations.
“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)