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Finance Standing Committee
Banks Amendment Bill [B17-2014]: National Treasury response to public submissions Day 2
18 Mar 2015
The deliberations covered four major themes raised by the public submissions and a general concern raised by Members on urgency of the Bill and its interface with the ‘Twin Peaks’ resolution legislation.
Creditor Protection
The submissions argued that the Bill provides a wide discretion to the curator and Minister to ...
Finance Standing Committee
Banks Amendment Bill [B17-2014]: Treasury response to submissions
17 Mar 2015
The National Treasury (NT) reported back on submissions received for the Banks Amendment Bill. Most stakeholders agreed with the need for a Bill, even if they differed on the approach. It was to be expected that stakeholders would attempt to elevate their own interestests above those of other stakeholders. It ...
Finance Standing Committee
Jobs Fund: briefing
11 Mar 2015
The Jobs Fund, housed under the umbrella of the National Treasury, briefed the Standing Committee on Finance on its progress since inception in the 2011/2012 financial year. During discussions, Members raised questions about the costs incurred to create permanent jobs and whether those costs were worthwhile and justifiable. Members queried ...
Finance Standing Committee
African Bank curatorship: update by Minister of Finance, National Treasury & Reserve Bank
10 Mar 2015
The Minister of Finance provided introductory comments on the curatorship of African Bank Ltd. The bank crisis dated back to the previous year. The crisis had an adverse contagious effect on the economy. The curator was not available for comment as he had to be protected from scrutiny. There could ...
Finance Standing Committee
Committee Report on Fiscal Framework and Revenue Proposals: consideration and adoption
5 Mar 2015
The Standing Committee and Select Committees on Finance adopted the draft report on the Fiscal Framework and Revenue Proposals relating to the 2015 Budget. The draft report was adopted with amendments. The amendment related to tightening and rewording recommendation 4.18 that proposed centralised procurement. Members also agreed that a new ...
Finance Standing Committee
Fiscal Framework and Revenue Proposals: public hearings
4 Mar 2015
The Standing Committee on Finance and the Select Committee on Finance held a joint meeting to hear public comment by various institutions and labour federations on the Fiscal Framework and Revenue Proposals.
The South African Institute of Chartered Accountants (SAICA) commended the Finance Minister and his National Treasury team for ...
Finance Standing Committee
Fiscal framework and revenue proposals; Division of Revenue Bill: Parliamentary Budget Office briefing
3 Mar 2015
The Parliamentary Budget Office (PBO) presented under various headings:
▪ Fiscal Framework: Budget 2015 recognised that the counter-cyclical approach had reached its limits. Fiscal consolidation could no longer be postponed. The current fiscal package was designed to narrow the deficit and stabilise debt. The poor could face the effects of ...
Finance Standing Committee
2015 Budget: Minister of Finance briefing
26 Feb 2015
The Minister of Finance and a team of senior delegates from the National Treasury presented a summary of the presentation of the 2015 Budget to the joint meeting of the Select Committees on Finance and Appropriations and the Standing Committees on Finance and Appropriations. Members kept their questions short and ...
Finance Standing Committee
Auditing Profession Amendment Bill: adoption
24 Feb 2015
Voting on the Bill had originally been scheduled for 18 February 2015, but the Chairperson decided that voting had to be deferred on that date, as a submission by the South African Institute for Professional Auditors (SAIPA) had not yet been responded to. A meeting between the Independent Regulatory board ...
Finance Standing Committee
Voting on Auditing Profession Amendment Bill (deferred); Financial and Fiscal Commission Amendment Bill: submission on appointments; Committee Programme
18 Feb 2015
Scheduled voting on the Auditing Profession Bill did not take place. A Parliamentary legal adviser; the National Treasury and a Committee researcher provided comments in preparation for voting, but it emerged that submissions on the Bill had not yet been properly processed. The Chairperson decided that voting had to be ...