The Minister of Finance (the Minister) tabled the 2012 Medium Term Budget Policy Statement (MTBPS) before Parliament on 25 October 2012. In tabling the MTBPS, the Minister met his obligation under section 28 of the Public Finance Management Act 1 of 1999 (PFMA) that requires the Minister to table multi-year budget projections for revenue, expenditure and key macro- economic projections on an annual basis. In addition to that, the Minister also met his obligation under section 6(1) of the Money Bills Amendment Procedure and Related Matters Act 9 of 2009 (henceforth referred to as the Money Bills Act) that requires the Minister to submit to Parliament the