Madam Deputy Speaker, the importance of this Bill lies not so much in what it says but, rather, in the fact that it is developing one of the most important powers of a democratic Parliament, namely that we are now enabled to amend the Budget and other money Bills.
After 16 years of democracy, Parliament is now exercising the important power embodied in the following statement: "There shall be no taxation before representation." We have the power to amend not only Bills which change or raise new revenues, but also those which authorise the state to spend money so raised. We should not forego this power by not using it.
One must also welcome the fact that the process of allocating revenues amongst the various spheres is based on a five-year programme. We welcome the fact that more money is given to the lower spheres of government in an overall shift of resources equal to approximately 10%, as that shows our government is placing greater emphasis on delivery. The lower the allocation of money to the people, the greater the benefit the money will have for the people.
The IFP supports the Bill because it is also good for democracy and it is good for good governance. Thank you.