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Finance Standing Committee
Committee Report on 2016 Revised Fiscal Framework (MTBPS); Financial Sector Regulation Bill: deliberations
8 Nov 2016
The Standing and Select Committees on finance met jointly to adopt the Medium Term Budget Policy Statement (MTBPS) report. The general view was that the recommendations are binding, therefore realistic targets have to be set. The Money Bills Act imposes an obligation on the Committee to determine whether the debt ...
Finance Standing Committee
2016 Revised Fiscal Framework (MTBPS): Treasury response to public hearings
4 Nov 2016
The Standing and Select Committees on Finance met to receive National Treasury responses to questions raised during the public hearings on the Medium Term Budget Policy Statement (MTBPS).
Growth Forecasting
The International Monetary Fund (IMF) forecast for global growth had been revised down in its flagship economic forecast since 2012. ...
Finance Standing Committee
2016 Revised Fiscal Framework (MTBPS): public hearings
2 Nov 2016
There were many positive aspects in the MTBPS that the Congress of South African Trade Unions (COSATU) agreed with. The main issue was what impact the budget had on job creation as this was COSATU’s main priority. It was worried that government did not have a coherent and comprehensive job ...
Finance Standing Committee
2016 MTBPS: Parliamentary Budget Office briefing
1 Nov 2016
The PBO presented its MTBPS analysis to the four Committees. It gave members highlights from the Ministers MTBPS speech and some highlights included stabilising debt as a share of Gross Domestic Product (GDP), stimulating growth, increasing revenue growth and creating more government efficiency. PBO gave an outline of reprioritisation to ...
Standing Committee on Appropriations
Medium Term Budget Policy Statement 2016: Minister of Finance and National Treasury briefings
27 Oct 2016
Documents Handed Out:
Medium Term Budget Policy Statement: National Treasury presentation [awaited]
The National Treasury and the Minister of Finance briefed the Committee with a full and detailed presentation on the main messages of the Medium Term Budget Policy Statement (MTBPS). This emphasised the trying economic environment in which the ...
Finance Standing Committee
2016 Medium Term Budget Policy Statement (MTBPS) Lock-up (Closed Meeting)
26 Oct 2016
It was a closed session. PMG was not present at the meeting.
Finance Standing Committee
Rates and Monetary Amounts and Amendment of Revenue Laws Bill; Financial Sector Regulation Bill schedules: deliberations; Financial Stability Board: role and mandate; BRRR
25 Oct 2016
The Committee firstly reviewed the Budgetary Review and Recommendations Report and went through the latest changes to the draft. Recommendations and observations by the Auditor-General on the performance of National Treasury were highlighted and concerns of some Members raised already were highlighted. The Members were reminded that SA Police Services, ...
Finance Standing Committee
Pre-Medium Term Budget Policy Statement (MTBPS) briefing by Parliamentary Budget Office
19 Oct 2016
The Parliamentary Budget Office (PBO) presented its pre-Medium Term Policy Statement (MTBPS) analysis to the four committees. The presentation was to provide members with the macroeconomic environment informing the 2016 MTBPS and current progress made with the implementation of the 2016/17 budget. The presentation also gave members preliminary results for ...
Finance Standing Committee
PIC, Government Pension Administration Agency & GEPF on their 2015/16 Annual Reports, with Deputy Minister
18 Oct 2016
The Public Investment Corporation (PIC) noted its largest clients were the Government Employees Pension Fund (GEPF) and the Unemployment Insurance Fund (UIF). The PIC investment process emphasised rigorous governance interventions at various stages of the investment process. Net contributions by the top five clients were indicated. Key strategic objectives were ...
Finance Standing Committee
National Treasury & SARS on their 2015/16 Annual Reports with Auditor-General input
12 Oct 2016
The Auditor-General of South Africa (AGSA) presented its annual report on the audit outcomes for the finance portfolio. The overall outcome was impressive, although the AG identified problems areas such as material mistakes on financial statements, irregular spending and supply chain management concerns. The main recommendations given by the AG ...