Have Your Say: Fiscal Framework and Revenue Proposals
The Standing Committee on Finance and the Select Committee on Finance invite stakeholders and interested parties to submit written submissions on the Fiscal Framework and Revenue Proposals that will be tabled together with the 2020/2021 Budget on Wednesday, 26 February 2020.
The Money Bills Amendment Procedure and Related Matters Act, Act No 9 of 2009, defines the fiscal framework as follows: The framework for a specific financial year 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 Wednesday, 4 March 2020.
Submissions and your indication to make oral presentation must be received by no later than 12:00 on Monday, 2 March 2020.
Submissions must be directed to the Committee Secretaries, Mr Allen Wicomb and Ms Teboho Sepanya (Standing Committee on Finance) and Mr Nkululeko Mangweni (Select Committee on Finance), 3rd Floor, 90 Plein Street, Cape Town 8000 or awicomb@parliament.gov.za / tsepanya@parliament.gov.za /nmangweni@parliament.gov.za tel. 021 403 3759 / 021 403 3738 / 021 403 3782.
Copies of the Fiscal Framework and Revenue Proposals will be available on 26 February 2020 at www.treasury.gov.za
Issued by Hon. MJ Maswanganyi, MP, Chairperson: Standing Committee on Finance (National Assembly) and Hon. YI Carrim, MP, Chairperson: Select Committee on Finance (National Council of Provinces).
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