Have Your Say: Fiscal Framework and Revenue Proposals
The Standing Committee on Finance and the Select Committee on Finance invites stakeholders and interested parties to submit written submissions on the Fiscal Framework and Revenue Proposals that will be tabled together with the 2019/2020 National Budget on 20 February 2019.
The Money Bills Amendment Procedure and Related Matters Amendment Act, Act No 13 of 2018 defines the fiscal framework as follows:
The framework for a specific financial year that gives effect to the national executive’s macro-economic policy and includes: estimates of all revenue, budgetary and extra-budgetary specified separately, expected to be raised during that financial year
- estimates of all expenditure, budgetary and extra-budgetary specified separately, for that financial year
- estimates of borrowing for that financial year
- estimates of interest and debt servicing charges; and
- indication of the contingency reserve necessary for an appropriate response to emergencies or other temporary needs, and other factors based on similar objective criteria.
Public hearings will be conducted at Parliament on 27 February 2019.
Submissions and your indication to make oral presentation must be received by no later than 12:00 on Monday, 25 February 2019.
Submissions must be directed to the Committee Secretaries, Mr Allen Wicomb (Standing Committee on Finance) and Mr Zolani Rento (Select Committee on Finance), 3rd Floor, 90 Plein Street, Cape Town 8000 or awicomb@parliament.gov.za / zrento@parliament.gov.za tel. 021 403 3759 / 021 403 8071.
Copies of the Fiscal Framework and Revenue Proposals will be available on 20 February 2019 at www.treasury.gov.za
Issued by Mr. Y Carrim, MP, Chairperson: Standing Committee on Finance (National Assembly) and Mr. CJ de Beer, MP, Chairperson: Select Committee on Finance (National Council of Provinces).
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