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
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.
Two days ago here in Brazil, we were shocked when we spent some time with some children living on the streets. And this is what one child told us: "I wish I was rich and if I were, I would give all the street children food, clothes, medicine, shelter and love and affection." 在巴西，我被2天前见到的情景震惊了，那时我和当地的小孩在玩耍，其中一个小孩说：“我希望我能富裕起来，然后我会给这个街道所有的小孩饭吃，给他们衣服穿，医疗，住房和爱”。
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.
The strength of Kellogg/HKUST is the quality of its participants.
“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?
"On the low base in 2017, CPI may increase at a faster pace this year, but there will not be noticeable inflationary pressure against the backdrop of stable demand and tight monetary environment," Lian said.
Apple Inc. CEO Steve Jobs introduces the iPad 2 on stage during an Apple event in San Francisco, California in this March 2, 2011,
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.
Since then, Teach First has put 5,000 graduates into schools, working with more than 1m pupils in low-income areas, helping to raise standards in classrooms, particularly London.
The civil service exam consists of writing tests and interviews. The interviews are expected to be held in February or March, after the writing test results come out in January.
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.
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.
TOWARDS AN ECONOMIC STRATEGY
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.
Despite China's rise, an "innovation divide" persists between developed and developing countries amid increasing awareness among policymakers that fostering innovation is crucial to a vibrant, competitive economy.
Schools relied on a wide range of technologies to ensure lively interactive delivery of their programmes including virtual classrooms, live sessions and multimedia teaching materials. Alumni were asked to rate delivery as well as indicate how effective online exams were. Results were encouraging. Schools appear to be getting better at online delivery. Every aspect of online delivery was rated higher than it had been in previous years, showing a greater level of satisfaction.
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
My arms are wide open for you this New Year.我张开双臂，盼与你共度新春佳节。
Today, we report on our progress. “We are moving forward!”
PRUDENT FISCAL POLICY
OUTLINE OF THE BUDGET FOR 2020/21
Corkin died this year but shortly after, journalist Luke Dittrich published a book claiming Corkin buried inconvenient findings, shredded files, and acted unethically in gaining HM's consent.
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.
JM Family Enterprises
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.
TextPride changed its name to Swyft Media and launched a platform that pushes emojis and stickers from new brands into messaging apps. Brands pay for the privilege, as they would with a regular ad campaign.
6.Jack Shephard Almost Died in the First Episode
《一记耳光》(The Slap)，NBC，2月12日播出。乔恩·罗宾·贝茨(Jon Robin Baitz)与丽莎·查罗登科(Lisa Cholodenko)担任制作人，这部剧改编自一部澳大利亚迷你剧，讲述一个后院生日派对失控后带来的后果。演员阵容非常强大，包括彼得·萨斯加德(Peter Sarsgaard)、乌玛·瑟曼(Uma Thurman)、桑迪·牛顿(Thandie Newton)、布莱恩·考克斯(Brian Cox)和梅丽莎·乔治（Melissa George，她也在原剧中出演角色）。
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.
Build the armed forces through political work and reform, and run them by law
“It’s fundamentally about ‘who are we?’” said Eric Kaufmann, a professor of politics at Birkbeck College, University of London. “What does it mean to be part of this nation? Is it not ‘our’ nation anymore, ‘our’ meaning the ethnic majority?
About 40 per cent of entrepreneurs did not seek any help when securing finance. Half of these raised equity purely from their own savings and/or family and friends compared with only 40 per cent of those who sought help from the school or alumni network.
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.
Not a lot of Bond villains get their own theme song, but Christopher Lee's assassin from The Man with the Golden Gun gets a flashy, catchy, groovy tune that makes him seem cool as hell. (And of course, he is.) Lulu completely sells the awesomeness of the villain Scaramanga, and although the song may seem almost ridiculously upbeat today, it only adds to the charm.
Movies in 2016 are going to be huge and there's going to be a lot of them. Some of the best movies coming in 2016 include,Batman vs Superman: Dawn of Justice, Captain America: Civil War, Fantastic Beasts and Where to Find Them, Finding Dory, Rogue One: A Star Wars Story, X-Men: Apocalypse, Independence Day: Resurgence, WarCraft and Suicide Squad.
We have increased excise duties to keep pace with inflation.
- 惊人降幅来自“低价板块” 南京楼市7月跌1.1%
- 杭州排队买房调查：摇号吸引刚需大军 价差诱惑投资客
- 绿色建材满天飞 装修市场多李鬼
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.
Behind the facade of many a New York City apartment building is the dissonant sound of residents complaining. The gripes that make their way to the inbox of my Ask Real Estate column offer a glimpse into how residents cope with the myriad irritations that come with living in cramped and costly homes. They include the co-op shareholder horrified by a neighbor’s rats’ nest; the parents whose building has barred them from using a stroller in the elevator; and the renter whose kitchen cabinets fell from the walls.
In May 1940, Germany advanced into France, trapping Allied troops on the beaches of Dunkirk. Under air and ground cover from British and French forces, troops were slowly and methodically evacuated from the beach using every serviceable naval and civilian vessel that could be found. At the end of this heroic mission, 330,000 French, British, Belgian and Dutch soldiers were safely evacuated.
“We do things for other reasons than a profit motive, we do things because they are right and just,” Mr Cook growled. Whether in human rights, renewable energy or accessibility for people with special needs, “I don’t think about the bloody ROI,” Mr Cook said, in the same stern, uncompromising tone that Apple employees hope they never have to hear. “Just to be very straightforward with you, if that’s a hard line for you?.?.?.?then you should get out of the stock.”
REDUCING STRUCTURALLY HIGH SPENDING
But fiscal sustainability must be uppermost in our mind.
Analysts say headline import figures may start to improve in the coming months since commodity price falls were particularly pronounced at the end of 2014, which will mean smaller year-on-year falls in Chinese imports in value terms.
Stallone's iconic underdog has spent decades inspiring athletes and nonathletes alike to fight for their goals. As a poor local boxer, Rocky gets his break when he enters a fight with World Heavyweight Champion Apollo Creed. Due to his rigorous training and Creed's relative apathy, Rocky becomes the first challenger to ever push Creed through all 15 rounds.
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.
Jacobs vowed at the meeting to improve management and cooperation with the association to enhance the credibility of the science. He stressed the publisher was not targeting China, as it had also retracted papers by experts from other countries, the statement said.
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.
Buyers and Sellers
Adjustments are mainly in conditional grants for provinces and municipalities.
8. Employment futures weak as pensions drain states, municipalities
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.
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.
Rafael Corrales, a partner at Charles River Ventures, believes that the growth in a wide range of fields—from academia to infrastructure to policy—is a sign that 2014 was the biggest year bitcoin has had yet, despite its volatility. “In the short-term, that’s an easy knock from people who don’t understand or believe it can be something,” he says. “It’s the easiest thing for them to go after. In that transition stage, you’re going to have extreme volatility, so looking at its value over one year is kind of silly.” As for occasional hacks, he adds, “There are going to be bumps in the short term, but they’ll be solved sooner than later. And these things are being addressed by a huge community of people. So you have to be really excited, despite small bumps.”
The mother-to-child transmission rate also reached its historically low point last year, dropping from 7.1 percent in 2012 to 4.9 percent in 2017, Wang said.
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
Madison Marriage is accounting and tax correspondent
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.
? Heavy snow has fallen in West Virginia, with up to 17 inches in Webster Springs. The National Weather Service has warned that more is on the way.
The 43-year-old woman was placed on a 12-month good behaviour bond and banned from owning animals.
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.
As a brand, Acura sold 167,843 cars and trucks last year, a 1.5% increase. Lexus, Toyota’s premium brand, was up 13.7%; BMW was up 9.8%, Audi was up 15.2% and Mercedes-Benz was up 6.5% in a U.S. market that was very favorable for luxury vehicle manufacturers.
Madam Speaker, we cannot go on like this. Classroom sizes are growing, hospitals are getting fuller and our communities are becoming increasingly unsafe.
The remaining of the top 10 were the University of Luxembourg (second), Ecole Polytechnique Federale de Lausanne (fourth), University of Geneva (fifth), ETH Zurich - Swiss Federal Institute of Technology Zurich (seventh), University of St. Gallen (eighth), National University of Singapore (ninth) and Imperial College London (10th).
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
Meanwhile, former Fifth Harmony star Camila Cabello proved her solo career is getting off to a flying start as she picked up the Best Pop award for her debut single, Havana.Her win meant that Taylor Swift was dealt another award snub, though it was just one of many for the singer, who recently made her return to the spotlight following her one-year hiatus.
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.
Committee Chairman Thorbjoern Jagland praised the work of the three recipients, saying that "we cannot achieve lasting peace in the world unless women obtain the same opportunities as men."
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
- However they went ahead with plans to send 100,000 anti-Pyongyang leaflets.
- 央视曝光北京建材市场 甲醛超标大芯板比比皆是
APPROPRIATE MONETARY POLICY
The twin of our fiscal framework is appropriate monetary policy.
10. The difference between a lie and a promise is that the believer of a lie is the listener and the believer of a promise is the speaker.
Susan Chan, head of iShares Asia-Pacific at BlackRock, says ETFs are more popular among institutional investors in the region.
We had everything before us, we had nothing before us…
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.
中国商务部(Ministry of Commerce)表示，今年1-10月中国对外投资总计863亿美元。
"The only thing she's got is the woman card," Trump said. "I'd love to see a woman president, but she's the wrong person. She's a disaster."
A research team at the University of Chicago has solved this problem, producing hands that send electric signals to the brain. They've begun with monkeys as test subjects, studying the animals to see how their brains respond to touch. When outfitted with prosthetic hands that stimulate their brains that way, the monkeys respond just as though they physically touch objects themselves.
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.
It’s the time of the year for list making! This Youku video clip named the nine hottest lines on China’s web this year. The Yangtze Evening Post, an influential newspaper, is the original list compiler.
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.
Two Chinese universities, University of Hong Kong and University of Macao, squeezed into the top 10 of the world's most international universities in 2016, according to a new list published by Times Higher Education on Thursday.
THE INFRASTRUCTURE FUND
2. How to write a CV
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.
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。
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 5.5-percent increase this year is reasonable given a less anticipated consumer price index (CPI) as well as slower salary and GDP growth, said Jin Weigang, head of the social security research institute under the MOHRSS.
The King’s Woman
We intend to make this intervention a resounding success.
HOW MUCH: $1,975,000
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
The list presents an annual snapshot of the ever-changing global business landscape. The U.S. holds onto its crown as the country with the most Global 2000 companies: 564. Japan trails the U.S. with 225 companies in aggregate, despite losing the most members (26) this year.
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.
Two arrests have been made in connection to the shooting death of 14-year-old Lecent Ross, police said Thursday.
Determinations to implement the Integrated Resource Plan of 2019 are finalised and await the concurrence of the National Energy Regulator.
The companies that have tried — and so far failed — to create a sustained ETF boom in Asia say the need for wholesale reform suggests the market will be defined by a protracted effort to convince both the regulators and customers to redraw the scenery.
SOUTH AFRICAN AIRWAYS
“The impact of lower prices on the slide in profits is worsening,” he said.
Three of former US president Barack Obama's tweets were among Twitter's list of 10 most retweeted this year, while none of current US President Donald Trump's tweets made the list.
Rated 6.4 points out of 10 on the review website, some users said the drama focused too much on romance.
There are no right or wrong answers, just be honest with yourself.
OPENING UP OUR MARKETS TO TRADE WITH THE REST OF THE CONTINENT
Top male vocalist: Jason Aldean
However, in season two Friends took a big leap toward equality by featuring a gay wedding when Carol married her girlfriend Susan. Behind the scenes, executive producer Marta Kauffman said, "NBC expected thousands and thousands of phone calls and hate mail." However, after the episode aired, they received only four antagonistic letters. As it turns out, people just didn't care that much.
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:
"In the aftermath of recessions, there's always a period of jobless recovery," says John Challenger, CEO of global outplacement firm Challenger Gray & Christmas. "We're certainly not optimistic about seeing much improvement in the unemployment rate in 2010."
Industrial business incentives worth R18.5 billion will create and retain approximately 56 500 jobs
Best chances: It's always hard to bet against Streep getting a best actress nomination, and Hanks is overdue for an acting nomination after missing out in recent years.
R6.5 billion is allocated for small business incentive programmes of which R2.2 billion will be transferred to the Small Enterprise Development Agency
‘Episodes’ This comedy on Showtime, too often overlooked, follows the bewilderment of two British TV writers stuck in Hollywood creating a series for Matt LeBlanc, who plays a diva version of himself very convincingly. Not many shows set in the entertainment industry can sustain the conceit, but this is one that got even better in its third year.
Below are 10 clues you left that basically scream: "I am job searching!"
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.
If the answer is "yes", then maybe you are a Type D personality.
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.
My grandmother’s favorite poem was Invictus by William Ernest Henley. My father hung a copy of it on our kitchen wall, so I grew up reading it every day: “I am the master of my fate; I am the captain of my soul.” I think the best advice I can give anyone – especially someone just starting out in business – is to embrace your role as master of your own fate. Recognize opportunities when they arise and get comfortable saying “Yes.”
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.
During the RoboCup 2500 contestants from 40 countries competed in 15 competitions with various types of computerized soccer robots, healthcare robots, rescue robots and dance robots.
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.
East Asia's cinephiles won't have a local favorite to cheer during this year's foreign-language Academy Awards race after the Taiwan epic 'Warr
He added that there was an unavoidable issue with the original plot, because Pussy Galore was cast as a lesbian who cannot help but be overcome with lust for Bond.
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.
Colliding Neutron Stars
In the apparent belief that “lower for longer” now means “lower forever”, investors have been piling into EM assets in recent weeks.
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.
“…called the interviewer by the wrong name.”
Officials with the State Administration of Press, Publication, Radio, Film and Television (SAPPRFT) said the film industry in China kept a steady development momentum in 2016 amid the "new normal" of the country's economic development.
5. Repeats & highlights are as good as the main match, so am gonna watch them.
To SKN Company in Russia for exploding old Russian ammunition and creating diamonds. Now that's recycling!
The CPI rose by 2 percent.
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.
After being named Esquire's "Sexiest Women Alive" in October and Details' "Most F*ckable Celebrity" last month, the gorgeous 29-year-old has now snagged another honor: FHM's "Sexiest Woman In The World 2013," beating 99 other ladies and countless more who didn't even make the list.
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!
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.
Hua Xu Yin is about a princess who sacrificed her life for the country but later was saved and began her own adventures with another name. It is also a TV series adaptation of an online novel of the same title written by Tang Qi. The series premiered in July 2015, staring Lin Yuan and Zheng Jiaying. However, it did not get as much attention as its rivals. According to the online critics, the lead roles and their costumes were not appealing enough in the adaptation.
China’s trade with the rest of the world fell sharply in October from a year earlier, with imports of raw materials particularly hard hit as slowing Chinese investment feeds through into weaker demand in the world’s biggest trader of goods.
The survey of 11,500 workers by Chinese employment agency Zhaopin found that 50.9 per cent did not get an annual bonus at the end of 2016. Another 9.6 per cent were told their bonus had been delayed until after the new year holiday.
All these steps build a capable state.
Madam Speaker, there are a number of entities that report to the Ministry of Finance.
It is the first time since 2001 that an athlete other than Mayweather Jnr or golfer Tiger Woods topped the earning league.
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.
Will Zimbabwe’s new leader hold — and win — fair elections
The prince said authorities could recover as much as $100 billion in settlements.
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.
Yes, pensions for retirees at state and municipal levels are preventing recovery. Corporate pensions are also a big problem, widening America's inequality gap: Drug company McKesson's CEO has been boss for 14 years, but will retire with a $159 million pension, while the income of America's average wage earner has stagnated for 30 years.
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.
"If it (transforming the economic development mode) only results in empty talk instead of being implemented, then economic development cannot be promoted in a sound and rapid way, and may even not be sustained." LI YIZHONG, member of the CPPCC National Committee and former minister of industry and information technology
“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)