Readers’Views
Industry targets just so much talk without visionary leaders in place
The target in “Industry group targets million new jobs in manufacturing” (November 26) seems unrealistic with its 10-year timeline, bearing in mind there is so much to fix before this programme can even be launched.
The poor understanding by the ruling party of the importance of this sector resulted in neglect. It also allowed the unions to make wage demands that soured relations between workers and employers, eventually reducing our manufacturing capacity, leading to unemployment.
Claims that 90 000 jobs have been created in the second quarter seem an exaggeration, with factories downsizing or even closing.
The government will need to establish more colleges providing vocational training to produce the qualified artisans vital for our manufacturing growth. But this cannot take place overnight and needs at least five years of learning to produce the journeymen to help expand our industrial base.
In our ever-changing world of new technologies, we need to urgently play catch-up. The Department of Trade and Industry has ambitious and costly plans to develop 100 black industrialists, which is commendable, but it is a lengthy process and will not come to fruition in time to meet the needs of our economy.
Incompetent leaders are responsible for our deteriorating situation, so now is the time to place in power men and women of vision who understand what is needed to restore our position as a serious player on the continent and elsewhere.
Ted O’Connor, Johannesburg
Compounding problem
Did I miss the part where you talk about inflation, “The magic of compounding in investment: how it works” (November 26)?
Without generating a return in excess of the inflation rate, your compounded money may buy you less 10 years from now than the original R100 invested gets you today.
Compounding does matter, but you have to beat inflation for it to mean anything.
Nick de Villiers, on businesslive.co.za
The office psychopath
Samantha Enslin-Payne’s column “Charismatic SOBs not easy to depose” (November 26) was well written and on the button.
I have worked under psychopath lites, and I have had the misfortune of having some as clients. It is hell . . . Tim Bester, on businesslive.co.za
If only we could tax those bribes
With all the bribery and corruption going on in South Arica, there must be many recipients of such monies. I have been trying to come to terms with whether such receipts should be or would be deemed taxable in the hands of those recipients.
I would not consider those receipts to be of a capital nature, and, by definition, they should therefore be included in taxable income and taxed accordingly.
However, the income-tax return does not make provision for income received by way of bribes or corrupt activities.
The income tax generated from this source could go a long way towards reducing the revenue deficit.
Len Walker, Somerset West