Blake Griffin's high school appearance isn't that far off from how he looks today. Just add some hair and some size to his biceps, and you've got Blake Griffin today.
Mr Deputy President
Governor of the South African Reserve Bank
Members of the Executive Committees for Finance
Fellow South Africans
After Google and Apple, are Amazon and Microsoft.
Today I table:
The Division of Revenue Bill
The Appropriation Bill
The 2020 Budget Review
The 2020 Tax Proposals
2.German: 22.2 percent increase
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.
No.4: The 1st Useful Mechanical Pet
“Ex Africa semper aliquid novi”
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.
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:
各中心城区传达学习市委全会精神抓落实抓推进 对标全球一流 引领上海再出发
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.
7.Thought-Controlled Bionic Legs
TOWARDS AN ECONOMIC STRATEGY
A savings account had been opened in the boy's name and he used those details when signing up for AdWords.
Like many child stars, Maddie speaks of being old before her time.
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
Companies that cut support roles during the downturn, the report notes, will be "adding staff to help make departments more productive and efficient." That trend may herald a happy new year for job hunters.
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.
Expenditure is projected at R1.95 trillion, or 36 per cent of GDP.
Search giant Google has replaced iPhone makers Apple to be the world's most valuable company in the Brand Finance's Global 500 2017 report.
Care about them, but don't let on mkay?
Indeed, there is some real personal income tax relief.
埃米?珀勒(Amy Poehler)狂吻博诺(Bono)，蒂娜?费(Tina Fey)吐槽乔治?克鲁尼(George Clooney)只爱年轻女人，而诡异的是马特?戴蒙(Matt Damon)当晚数次“中枪”。
Hard-working tax payers, who earn on average R265 000 a year, will see their income tax reduced by over R1 500 a year.
“我去的每一个地方，都发现企业主对未来的需求量有一个很好的预期，” Gus Faucher PNC金融服务机构的资深经济学家称。“商人必须提高薪酬来吸引更多的劳动力或者保留原有的工人”。
She told The Telegraph: 'I don't feel that normal any more because I get recognised, even when I'm just trying to have fun or going to get ice cream with my friends.
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.
One of the designer's most important companions in later life was his Birman cat Choupette, who he has called his one true love and said he would marry if it were legal.
On Tuesday Saarland became the first German region to ban campaigning by foreign politicians. Several German local councils had called off planned Turkish ministers’ campaign meetings on technical grounds, such as fire safety.
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.
- 环比多增699亿 3月强调控下个人房贷不降反升
- 巨头分拆LED照明产业利多 欧美重心移至高利润技术
- Mr Crabb has taken no exposure to Hong Kong’s property market since setting up in Asia 18 months ago, because he says prices are too high and affordability too low.
- 2017年过半 LED照明产业走势如何？
- 房地产受益降准最大 一二线楼市下半年供需反转
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.
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.
"Premier Wen Jiabao's speech had a big focus on economic and social development. It's clear the government is working very hard to bring about the goal of building a prosperous society."
REDUCING STRUCTURALLY HIGH SPENDING
But fiscal sustainability must be uppermost in our mind.
5.Create a Study Space
WHAT: A house with three bedrooms, two full bathrooms and two half-bathrooms
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.
Susan Chan, head of iShares Asia-Pacific at BlackRock, says ETFs are more popular among institutional investors in the region.
Belgium, for example, has less than a tenth of the population of Russia, its rival in the group stage, but is regarded as a far greater threat. And then there is Uruguay, which despite fewer than 4 million citizens -- barely a sixth of the population of greater S?o Paulo -- is one of the teams Brazil would least like to meet on its way to the final. How is this so?
Marcos Carvalho, an 18-year-old Brazilian fan who was hanging out near the Estadio Nacional in Brasilia before Brazil played Cameroon earlier this week, said that he "didn't even try getting tickets, they were too expensive.""There was no way we could afford them," he said. "We'll just watch the match at home, it's all we can do. We are seeing everyone going to the stadium, everyone happy, but we won't be going."
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.
Chinese cellphone maker giant Huawei expects its smartphone shipments to grow 29 percent year-on-year to reach 139 million in 2016, compared with an estimated global average shipment growth of 0.6 percent.
Adjustments are mainly in conditional grants for provinces and municipalities.
Professor Ivarsflaten cited the U.K. Independence Party, whose official platform focused on Brexit but whose pitch to voters emphasized immigrants’ effects on the economy and culture, as an example of an effective hybrid populist pitch.
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.
Drama Series: “Game of Thrones” (HBO)
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
大多数专业顾问（包括我在内）都会对其客户大力鼓吹全球化多元投资组合的好处，然而，在12月看来，残酷的现实是2014年更像是个平局，而非大获全胜。事实上，上周摩根士丹利资本国际全球指数同比仅上涨了2％，而摩根士丹利资本新兴市场指数（MSCI Emerging Markets）和追踪美国以外发达国家市场的EAFE指数双双下跌了近5％。具有讽刺意味的是，除美国以外全球唯一一个表现上佳的市场——中国大陆股市的上证综指（上涨了45％），也是唯一一个美国投资者无法进入的市场。
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.
n. 能力，容量，容积; 资格，职位
The recession may be over, but the job market recovery is lagging way behind. And experts say the situation may get worse before it gets better.
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.
A woman's portrait has not been printed on U.S. paper money since 1896, when Martha Washington, the wife of the first U.S. president, was shown on a one dollar silver certificate.
Madam Speaker, we cannot go on like this. Classroom sizes are growing, hospitals are getting fuller and our communities are becoming increasingly unsafe.
The public prosecutor has decided to release several individuals and will proceed with the prosecution of at least five others.
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
5. “Carol” (Todd Haynes)
“Our goal is to produce as many units as we can and, at the same time, make sure that we do it in a way that maintains and enhances the health of neighborhoods,” said Carl Weisbrod, the director of the Department of City Planning.
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.
Last week, Lu was appointed director of the office for Beijing's Leading Group of Promoting Beijing-Tianjin-Hebei Integration Development, a move to accelerate Beijing's moves to coordinate with Tianjin and Hebei province.
We will propose a new law to stop excessive salaries in these public entities.
1.It wasn’t me! – Because some things just aren’t worth taking credit for。
We are already acting on fruitless and wasteful expenditure. Last year, this House amended the Public Audit Act to empower the Auditor General to:
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
- 央视：不生二孩就得变相“罚款”? 一项荒唐的建议
- 李克强：民营经济的管理者、经营者和生产者 都是中国特色社会主义的建设者
APPROPRIATE MONETARY POLICY
The twin of our fiscal framework is appropriate monetary policy.
Whatever one's view, two further points for and against Russia's global standing are undeniable:
China will not overreach its regional influence to seek trade arrangements where the country's due role is not in place.
The prize sold for a winning bid of $950,000 at auction, and an additional buyer's commission brought the final sale price to $1.16 million.
While both numbers came in below forecast, they show how the BoJ has a tough decision on its hands, with respect to potentially ramping up its quantitative easing programme. The monthly numbers look good, the yearly ones not so much.
For Maddie Ziegler, from Pennsylvania, life couldn't be more different.
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.
In the ranking of finance programmes for students already working in the industry, London Business School regains the top place it occupied between 2011 and 2015, while Judge Business School at Cambridge university drops back into second place.
This year, pop's best albums came from strong women who had a lot to say: Lorde's searing look at loneliness, Kesha's raucous statement of liberation, Taylor Swift's reckoning between her self and the version presented in the press.
Many successful entrepreneurs started later in life. J. K. Rowling (Harry Potter author), Julia Child (chef), and Sam Walton (Wal-Mart) all started their wildly successful brands after they were comfortably along in their lives. Having the experience that comes with age can give you a unique outlook on your business. Life experiences bring depth that the most educated young adult, by his or her nature, is less able to foresee.
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.
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.
With interest rates expected to rise only slowly, commodities are likely to attract hedge funds and other speculative investors looking for juicier returns, said the bank.
No. Having ended Robert Mugabe’s 37-year rule — with a little help from the army — Emmerson Mnangagwa has promised free elections in 2018. That raises one problem: he could lose. He must at least pretend elections are fair because he needs donor money to help turn the economy around. That would mean electoral reforms, which risk a loss for his unpopular Zanu-PF. Even if Mr Mnangagwa were prepared to roll the electoral dice, it is not clear the army is. Having got their man in, Zimbabwe’s generals are unlikely to allow the public to kick him out.
THE INFRASTRUCTURE FUND
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.
The disclosure form also warns forex buyers that they are not allowed to exploit others’ exchange quotas. Previously, aggregating quotas from multiple individuals was a common technique that grey-market money changers used to obtain large sums of foreign exchange.
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.
1. Bottoms Up Beer System
We intend to make this intervention a resounding success.
About 200 million migrants, half of whom are women, sent $445 billion to their families in Asia, Latin America and Africa in 2016, the International Fund for Agricultural Development (IFAD) said last Wednesday.
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.
China's movie box office revenue grew 9 percent to $8.9 billion (RMB 60.98 billion) in 2018.
3) I am often irritated 0 1 2 3 4
A fallen tree blocks a street in Washington, DC, on Tuesday.
Determinations to implement the Integrated Resource Plan of 2019 are finalised and await the concurrence of the National Energy Regulator.
Included will be messages about smoking causing cancer and women who give the charmer a run for his money as 'little twists' have been added to make the story suitable for the modern reader.
SOUTH AFRICAN AIRWAYS
Still, there are bulls in the market.
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.
与此同时，法国拉罗谢尔高等商学院(La Rochelle Business School)的排名却下滑12个位置，排在第60位，去年该学校是排名上升最快的学校之一。
To Craig Bennett, Abigail Baird, Michael Miller, and George Wolford for demonstrating that brain researchers, using a combination of complicated equipment and simple statistics, can find meaningful brain activity anywhere, even in a dead fish.
OPENING UP OUR MARKETS TO TRADE WITH THE REST OF THE CONTINENT
Christmas arrived on schedule for the U.S. auto industry as a spurt of sales put the wrapping on a surprisingly successful year. Analysts predicted that sales in December could hit a seasonally-adjusted rate of 17 million, which would be the first month at that rate in nearly six years. That would push 2013 sales up to a robust 15.7 million units.
When faced with competition, they may focus less on winning or losing than their Type A counterparts, and more on enjoying the game regardless of winning or losing.
Will the Federal Reserve's path out of bond buying get bumpy?
The report provided in-depth observations on 28 Chinese business and administrative capitals - excluding Beijing and Shanghai - using several indicators.
Saving Cancer Patients in Africa
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 issue has also hit Beijing’s efforts to secure market economy status in the WTO, which it claims it will be entitled to automatically on December’s 15th anniversary of it joining. If China obtains that status it could affect the ability of the US and others to bring anti-dumping cases, as it would remove their ability to use prices in third countries for comparison.
Industrial business incentives worth R18.5 billion will create and retain approximately 56 500 jobs
Its Academic Ranking of World Universities is made up of six objective indicators, including the number of alumni and staff winning Nobel Prizes and Fields Medals, the number of highly-cited researchers, the number of articles published in the journals Nature and Science, the number of articles indexed in the "Science Citation Index", and their per capita performance.
Attention, travel lovers. You may not have made any travel plans yet, but the choices for next year’s best destinations are already out. Recently, the well-known travel guide publisher Lonely Planet issued its Best in Travel 2014 selection. Here, we pick a few countries from its top 10 list to give you a taste.
R6.5 billion is allocated for small business incentive programmes of which R2.2 billion will be transferred to the Small Enterprise Development Agency
在此次上榜的5所中国学院当中，上海高级金融学院排名最高，领先于北京大学光华管理学院(Guanghua School of Management at Peking University)和清华大学经济管理学院(School of Economics and Management, Tsinghua University)，后两家学院分别排名第17位和第18位。
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 raised decoration shows a cartouche — an oval frame around Egyptian hieroglyphics indicating a royal name. Above the frame archaeologists could make out the symbol of an eye and that of a cobra.
富达国际(Fidelity International)旗下全球地产基金的投资组合经理德克?菲利帕(Dirk Philippa)也削减了在香港的投资，把配置比重从两年前相对基准超配6%至8%调整至超配1%。
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.
In 2007, Apple released the first iPhone: a full touchscreen phone, complete with its own virtual keypad. To many, Apple had done something new, something never seen before. They had made the first touchscreen phone. But this was incorrect: Apple did not make the first touchscreen phone, nor was the touchscreen a new invention.
Additional reporting from Stefan Wagstyl in Berlin
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.
6. You don’t just pass in front of the TV if i’m watching football, you better crawl on the floor.
A $20 billion number would make any investor salivate, but when divided between buybacks and dividends, it's pocket change compared to the share repurchase announcements other companies have made in 2014.
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.
3. Flying Horse
14. On the Other Hand Here is an estimate of the movies directed by women that were released by major studios this year: Warner Bros. (five! — Lana Wachowski, Anne Fletcher, Dana Nachman, Nancy Meyers, Patricia Riggen); Universal (three — Sam Taylor Johnson, Elizabeth Banks, Angelina Jolie); Disney (one — Niki Caro); Paramount (0); Fox (0); and Sony (0). (I excluded Fox and Sony’s specialty units.)
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.
"This is something we believe is really important for the future of our country,"Facebook (FB, Fortune 500) CEO Mark Zuckerberg said in August.
简而言之，C型人格的人是完美主义者， 始终如一，永远不会违反规则。 与A型人格的人不同的是，C型人会花时间处理细节，经常反复检查工作是否准确。他们往往是深思熟虑的人，喜欢了解自己工作和生活的每一个细节。
在开放课程排行榜顶端，赛德商学院(Sa?d Business School)排名上升幅度最大，跃升5位至第4名。这是这所位于牛津大学(University of Oxford)的商学院首次进入前五。赛德商学院在所有10项受学员评分影响的指标上的排名都有所提升。
A heartfelt coming-of-age story that perfectly captures the bittersweet transition from adolescence to dawning adulthood...
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.
In 2018, more business leaders will channel a potent combination of digitalisation, generational change and growing diversity, to streamline their hierarchies, distribute responsibility, and transform their organisations.
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!
Yes, even if real GDP growth does not. Speculation over the true GDP growth rate in China, as opposed to the official one, has spawned a cottage industry of specialist economists. The official figures are deceptively stable and serene thanks to suspected “smoothing” by the Chinese authorities, as they bend the figures to fit growth targets. So even if growth does stumble in 2018, the official growth rate is almost certain to come in above the preordained 6.5 per cent.
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.
All these steps build a capable state.
Madam Speaker, there are a number of entities that report to the Ministry of Finance.
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.
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.
St Gallen outperforms other ranked schools thanks in part to strong scores for international criteria. More than 90 per cent of students and 80 per cent of faculty are from abroad. The school is also ranked second for both the international mobility of its students and their international exposure during the programme.
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.
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)