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Finance Standing Committee
2020 Fiscal Framework and Revenue Proposals: public hearings
4 Mar 2020
2020 Budget Speech
Fiscal Framework and Revenue Proposals
The Standing and Select Committees on Finance held joint public hearings on the 2020 Budget. The Congress of South African Trade Unions (COSATU); the National Union of Metalworkers of SA (NUMSA); National Council Against Smoking (NCAS); Fiscal Cliff Study Group (FCSG); Organisation ...
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
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 ...
NCOP Appropriations
Conditional Grants 2019/20 Quarter 3 spending
19 Feb 2020
National Treasury noted Provincial Conditional Grants come in two categories:
• Schedule 4A grants supplement funding of programs or functions funded from provincial budgets such as the Provincial Road Maintenance Grant.
• Schedule 5A conditional grants are specific purpose that must be spent following a framework.
Generally, 70-75% spending is ...
Finance Standing Committee
Economic Performance and Outlook: South African Reserve Bank briefing
18 Feb 2020
The Finance Committees of the National Assembly and National Council of Provinces (NCOP) held a joint meeting to receive a briefing by the Governor of the South African Reserve Bank (SARB) and other officials on the Bank’s monetary policy.
They were told that lower inflation had created space for the ...
NCOP Finance
IRBA Annual Report and legislative changes to its powers and functions
11 Feb 2020
The Independent Regulatory Board for Auditors (IRBA) Annual Report outlined steps taken to restore confidence in the auditing profession following a number of high-profile scandals. IRBA’s code of ethics was revised. Guidance documents on audit quality indicators were issued to auditors and audit committees. Audit firms were ...
NCOP Finance
DBSA on its R3.5 billion SAA loan, mandate and activities
4 Feb 2020
The Development Bank of Southern Africa (DBSA) gave a briefing on how it was fulfilling its mandate as a government-owned development finance institution tasked with promoting economic growth and human resource development.
However, much of the discussion centered on what one Committee member described as “the elephant in the room” ...
NCOP Appropriations
Committee Reports: Adjustments Appropriation Bill 2019 & Proposed division of revenue and conditional grant allocations to Provinces and Local Government in 2019 MTBPS
5 Dec 2019
Draft report on proposed division of revenue and conditional grant allocations
Draft Report on Adjustments Appropriation Bill
The report was adopted with amendments, with the DA reserving a right to check on legality.During consideration of the draft report on the Adjustments Appropriation Bill, the DA questioned the notion that the Select ...
NCOP Finance
Tax Bills (TLAB &TALAB) & Rates Bill: finalization
3 Dec 2019
The Committee deferred its adoption of its reports on the 2019 Tax Administration Laws Amendment Bill, Taxation Laws Amendment Bill and Rates and Monetary Amounts and Amendment of Revenue Laws Bill after Members observed the reports required further work. The adoption was deferred to either later the afternoon or tomorrow ...
Standing Committee on Appropriations
Division of Revenue Amendment Bill [B15-2019]: Salga briefing & public hearings
15 Nov 2019
The Standing and Select Committees on Appropriations heard submissions from the South
African Local Government Association (SALGA) and the Organisation Undoing Tax Abuse (OUTA) on the 2019 Division of Revenue Amendment Bill (DoRAB).
SALGA told the committees that the weaker economy meant that local government’s equitable share of national revenue ...