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Finance Standing Committee
2020 Budget: Parliamentary Budget Office & Financial and Fiscal Commission briefings
3 Mar 2020
Parliament’s finance and appropriations committees from both houses met jointly to be briefed on the 2020 Budget by the Parliamentary Budget Office (PBO) and the Financial and Fiscal Commission (FFC).
The PBO expressed the view that the macroeconomic approach of the budget was too narrowly focused on ...
Finance Standing Committee
2020 Budget: Treasury briefing; with Minister & Deputy Minister
27 Feb 2020
Watch Meeting: Youtube
2020 Budget Speech
2019 MTBPS Speech
Parliament’s finance and appropriations committees from both houses met jointly with the Minister of Finance and senior National Treasury officials to discuss the 2020 Budget. The Minister had tabled his budget proposals the previous day.
Members were told that very low ...
Finance Standing Committee
Pre-Budget briefing by Parliamentary Budget Office
25 Feb 2020
High debt levels, mass unemployment and poor economic growth were some of the issues raised at a pre-budget briefing given by the Parliamentary Budget Office to the Standing and Select Committees on Finance.
Committee Members were told that poor levels of investment remained a problem, and that there was a ...
Finance Standing Committee
GEPF 2018/19 Annual Report
19 Feb 2020
The Standing Committee on Finance raised concerns about the oversight of investments by the Government Employees’ Pension Fund (GEPF) when it received a briefing on the fund’s annual report. Members also raised questions about reports of a proposed bail-out of the Eskom power utility using R254 billion ...
Finance Standing Committee
PIC & GEPF on Steinhoff; Transformation of the Financial Sector: Nedlac; Over-the Counter Derivative Transactions: NT briefing
3 Dec 2019
The Public Investment Corporation (PIC) briefed the Standing Committee on a mediation process between the Steinhoff Group and its creditors, including the PIC. It reported that Steinhoff had made a proposal involving funds from a third party known as “The White Knight”. The terms of this proposal remained strictly confidential. ...
Finance Standing Committee
Transformation in the Financial Sector: stakeholder engagement
26 Nov 2019
The Committee met with stakeholder to discuss transformation in the financial sector. This was meant to be a follow-up meeting to check on the progress that had been made since the Committee and
the Portfolio on Trade and Industry passed a report on this matter in 2017. The report had ...
Finance Standing Committee
TLAB, TALAB & Rates Bill: finalisation
20 Nov 2019
The Committee considered and approved two tax bills and the Rates bill.
National Treasury (NT) indicated that the key proposal for the Rates and Monetary Amounts and Amendments of Revenue Laws Bill in 2019 was to increase the excise duty of tobacco. Since the Bill was tabled in Parliament on ...
Finance Standing Committee
Illicit Tobacco Trade: SARS briefing
19 Nov 2019
The Standing Committee on Finance meeting on the illicit tobacco and cigarette trade was a follow up to an earlier hearing on the tax laws, at which Members heard that the legal trade was being endangered by illegal traders who paid no tax. The Chairperson said if nothing was done, ...
Finance Standing Committee
2019 Revised Framework: response by National Treasury to public submissions
8 Nov 2019
The Finance Committees of the National Assembly and the National Council of Provinces met jointly to received the National Treasury’s response to the public submissions on the 2019 Medium Term Budget Policy Statement (MTBPS).
Three main areas of discussion were identified: economic growth and revenue forecasts, fiscal sustainability, and general ...
Finance Standing Committee
2019 Revised Fiscal Framework and Revenue Proposals: public hearings
6 Nov 2019
The Finance Committees of the National Assembly and the National Council of Provinces held a joint public hearing to receive submissions on the Medium Term Budget Policy Statement (MTBPS).
The Congress of South African Trade Unions (COSATU) told the committees that it found the MTBPS “shockingly weak and inadequate". Government ...