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Finance Standing Committee
FICA Bill and Committee Report: adoption
21 Feb 2017
The meeting began with deliberations on the Committee Report on the referral of the Financial Intelligence Centre Amendment Bill [B 33B–2015]. This report contains the Committee’s conclusions regarding comments from the President on the Financial Intelligence Centre Amendment Bill.
There were no further changes to the Committee proposed amendments to ...
Finance Standing Committee
Budget 2017: pre-budget briefing by Parliamentary Budget Office
21 Feb 2017
A pre-budget briefing was given to the four finance committees by the Parliamentary Budget Office (PBO). The presentation highlighted lower-than-expected revenues as a key challenge facing the fiscus. Also discussed were the main avenues of expenditure, the trajectory of the budget and the potential tools available to government to reduce ...
NCOP Appropriations
MIG projects in Saldanha Bay Local Municipality: Western Cape Department of Local Government briefing
31 Jan 2017
The briefing by the Western Cape Department of Local Government was in two parts. The first section covered the expenditure performance of the Municipal Infrastructure Grant in the 2016/17; performance record; monitoring of expenditure of rollovers, and mitigation of challenges. Seven municipalities in Western Cape had an underspent balance. Challenges ...
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill [B34-2015]: deliberations
17 Aug 2016
The afternoon session opened with a continuation of a discussion on the National Credit Regulator in relation to the Bill before the Committee.
The meeting then moved onto a consideration of the financial impact of the Bill. Members were concerned about the costs being transferred from the financial institutions onto ...
NCOP Finance
KwaZulu-Natal on its 2015/16 unaudited Annual Report; Land Bank board appointments: deliberations
16 Aug 2016
The National Treasury made a presentation to the Committee on the provincial budgets and expenditure for KwaZulu-Natal (KZN) for the third and fourth quarters of the 2015/16 financial year. Newly identified schools and clinics had put pressure on the Public Works budget, as they had not been budgeted for. Due ...
NCOP Finance
Western Cape, Mpumalanga & Free State Provincial Treasuries on its 2015/16 performance, in presence of MECs
25 May 2016
The National Treasury firstly presented a summary of the third and fourth quarter expenditure for the provinces of Free State, Western Cape and Mpumalanga. However, it was emphasised that these figures had not yet been audited so that there might still be some adjustments. Free State spent 99% of the ...
NCOP Appropriations
Appropriation Bill: briefing & adoption; Committee Report on Municipal Infrastructure Grant rollovers
24 May 2016
The National Treasury noted that expenditure ceilings for the two outer years of the 2016 Medium Term Expenditure Framework (MTEF) period were reduced. Expenditure baselines were growing at the rate of 7.5% over the 2016 MTEF period. There was a drawdown on the contingency reserve within the expenditure ceiling. The ...
NCOP Finance
Gauteng Provincial Treasury on its Quarter 3 & 4 performance
11 May 2016
The National Treasury and Gauteng Provincial Treasury briefed the position on the general spending, and the spending of individual provincial departments in Gauteng in the third and fourth quarters of the 2015/16 financial years. It was noted that the Gauteng Provincial Government (GPG) underspent by R2.2 billion although over spending ...
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 ...