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ECONOMY

Bruggemans made an interesting comment on the dual character of the household sector of our economy this week past: He noted the disparity between a large number of households which seemed to be enjoying continuity of real income anchored in stable employment and who claim confidence in the financial prospects, set against others claiming a recession. This fragmentation seems to predict little good for our rather fragile internal economic relations. Oil on Mr Malema's fire.

Our consumer confidence index has bounded to its highest reading since the 3rd quarter of 2011. This is said to be not sustainable and is ascribed to an overreaction by consumers.

It is reported that the ANC has decided to introduce export taxes on raw materials to encourage local beneficiation.

BUSINESS

Lies, damn lies and statistics (attributed to Disraeli): The chance that children from a poor background will make Matric by the age of 20, is 17%. That figure, for children from a wealthier background, is 88%. I confess that I am often disturbed by such statistics. The argument tends to run that if everyone had a greater income, education would be so much easier. I suspect that it is not the wealth or lack of it per se, which causes this, but probably the influence better educated parents (who would be wealthier) have on their children as well as a carry-over of knowledge and conduct.

R699 cars: have you seen cars with an advert on the rear window punting cars for R 699? The deal, apparently, was this: the "organiser" would refer you to a dealer for a car financed by all of the big banks save WesBank, backed up by its own undertaking to pay some R1000 per month if one allowed the advertisement on that car

PROPERTY

UK house prices have picked up despite a two-pronged attack by the Bank of England. Heck, who wouldn

PRACTICE

Dr Watson, CEO of the RAF, wrote in Business Day: "Under the existing arrangement, only a fraction of the claim payments made by the RAF reach the intended beneficiary.

CASES & SUCH

A brief extract of SARS versus Pretoria East Motors was sent to me by Frans Krause, a CA-friend of mine. Apparently SARS compares the VAT turnover to the financial statements submitted by a taxpayer, and from this raises either additional VAT or income tax on any difference. In this case the accounting system recorded VAT free supplies, which led SARS to believe that that avoidance had taken place. The court commented that

QUOTABLES

WEIRD & WONDERFUL

This from MP Maseko:

LIGHTEN UP

The Idler on the Eastern European domination of Wimbledon:
Sharapova, Makarova, Safarova, Shvedova, lego.. Oops....

How many Scotsmen does it take to change a light bulb?
Och! It's no that dark

A Scottish newspaper ad "Lost - a