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Joint Standing Committee on Financial Management of Parliament
Election of Co-Chairpersons
5 May 2016
The Chairpersons for both the National Assembly (NA) and National Council of Provinces (NCOP) component of the new Joint Standing Committee on Financial Management of Parliament were elected.
NCOP Appropriations
Division of Revenue Bill [B2-16]: final mandates
3 May 2016
Final mandates on the Division of Revenue Bill were received from seven provinces and they all approved the Bill. The minimum requirement is five provinces.
The Committee Report on the Division of Revenue Bill was considered and adopted. An important Committee recommendation was that the Department of Monitoring and Evaluation ...
NCOP Appropriations
Provincial conditional grants 3rd quarter 2015 performance: National Treasury briefing
5 Apr 2016
National Treasury provided the expenditure figures for each of the nine provinces. The required norm is 75% spent by the end of the third quarter. Percentages fell short of the required percentage in many instances. Grants where underspending was most prevalent were Agriculture; Arts and Culture; Social Development, and the ...
NCOP Finance
Revenue Laws Amendment Bill [B6-2016]: briefing, consideration and adoption
16 Mar 2016
The Committee was briefed by National Treasury on the Revenue Laws Amendment Bill and considered and approved the Bill, with the DA dissenting. The Bill provides an amendment to the Taxation Laws Amendment Act to postpone the commencement date from 1 March 2016 to 1 March 2018 for certain provisions ...
Finance Standing Committee
Pre-Budget presentation by Parliamentary Budget Office; South African Economic Update: World Bank briefing
17 Feb 2016
The Parliamentary Budget Office (PBO) provided pre-budget analysis of the macro-economic background and the fiscal framework for 2016, to a joint meeting attended by the Standing and Select Committees on Appropriations and the Standing and Select Committees on Finance.
The Office discussed South Africa’s difficult economic climate, noting revised downward ...
NCOP Finance
Land Bank on their Corporate Plan for 2015/16 – 2017/18 briefing
16 Feb 2016
Land Bank briefed the Committee on its Corporate Plan. It noted that it shares characteristics of both a commercial bank and a Development Finance Institution(DFI). It would be meeting in the following week to approve the final Corporate Plan, which would be subject to approval of the National Treasury (NT). ...
NCOP Finance
Progress made with regards to implementation of Memorandum of Agreement (MOA): Monitoring and Evaluation Committee (former Limpopo Administrators) briefing
2 Feb 2016
The MEC for Treasury (in Limpopo) informed the Committee that Limpopo had moved from a section 100(1)(b) intervention to section 100(1)(b) in 2014 for all five government departments, according to a Cabinet decision. There had been a R2.1 billion overdraft in December 2011, but the cash situation was currently stable. ...
NCOP Finance
Taxation Laws Amendment Bill [B29B-15]; Tax Administration Laws Amendment Bill [B30-15]: briefing & adoption; Committee Report on Limpopo oversight visit
27 Nov 2015
The Committee heard a joint presentation from National Treasury and the South African Revenue Service on the Taxation Laws Amendment Bill [B29B-2015] and the Tax Administration Laws Amendment Bill [B30-2015]. The presentation dealt with changes to the law in the areas of general business taxes, taxation of financial institutions and ...
NCOP Appropriations
Adjustments Appropriation Bill [B28-15], Finance Bill [B31-15], New Development Bank Special Appropriations Bill [B32-15]: adoption
26 Nov 2015
The Committee adopted the Adjustments Appropriation Bill, the Finance Bill and the New Development Bank Special Appropriations Bill.
The Democratic Alliance presented a submission on the DA's position on the Adjustments Appropriation Bill. It detailed various budget items within the budget votes of departments which the DA believed could have ...
NCOP Appropriations
Adjustments Appropriation Bill[B28-15]; Finance Bill [B31-15]; and New Development Bank Special Appropriations Bill [B32-15]: consideration; Proposed division of revenue and conditional grant allocations to provinces and local government: consideration
25 Nov 2015
The National Treasury briefed the Committee on the New Development Bank Appropriation Bill. The New Development Bank (the Bank) is a multilateral development bank,whose members in the first instance will be the BRICS countries as equal partners, with the purpose of mobilising alternative sources of financing, in the form of ...