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NCOP Appropriations
How Local Government & Provincial Equitable Share Formulas work: Treasury briefing; Stoppage of Local Government Equitable Share to 60 municipalities: FFC briefing
13 May 2015
National Treasury
Treasury said that local government and provinces were entitled to the equitable share to provide basic services and perform prescribed functions. Budgetary conditions were set as well others requirements to ensure the money was used as allocated. There were controls over how the money was spent based on ...
NCOP Finance
Auditing Profession Amendment Bill: National Treasury briefing & adoption; Banks Amendment Bill, Financial &Fiscal Commission Amendment Bill: National Treasury briefings
6 May 2015
National Treasury presented a briefing on the Auditing Profession Amendment Bill. Auditors were regulated by the Independent Regulatory Board for Auditors (IRBA), whose primary objective was to protect the public through the regulation of the auditing profession. The objects of the Amendment Bill were to provide for the regulation of ...
NCOP Appropriations
Division of Revenue Bill [B5-2015]: Treasury response to submissions; negotiating mandates
21 Apr 2015
The Committee considered responses by National Treasury to submissions on the Division of Revenue Bill. Members were encouraged to comment on the responses given. Concern was raised about the practice of National Treasury to withhold funds from municipalities that were not paying creditors such as Eskom and water boards. The ...
Finance Standing Committee
Fiscal framework and revenue proposals; Division of Revenue Bill: Parliamentary Budget Office briefing
3 Mar 2015
The Parliamentary Budget Office (PBO) presented under various headings:
▪ Fiscal Framework: Budget 2015 recognised that the counter-cyclical approach had reached its limits. Fiscal consolidation could no longer be postponed. The current fiscal package was designed to narrow the deficit and stabilise debt. The poor could face the effects of ...
Finance Standing Committee
2015 Budget: Minister of Finance briefing
26 Feb 2015
The Minister of Finance and a team of senior delegates from the National Treasury presented a summary of the presentation of the 2015 Budget to the joint meeting of the Select Committees on Finance and Appropriations and the Standing Committees on Finance and Appropriations. Members kept their questions short and ...
NCOP Appropriations
Conditional grants expenditure in 2014: overview and analysis
17 Feb 2015
The Committee Content Adviser and the Researcher provided the Committee with an overview of Schedule 4, 5, 6 and 7 conditional grant expenditure.
- A Schedule 4 grant was an allocation to provinces to supplement the funding of programmes or functions funded from provincial budgets. Expenditure of Schedule 4 grants ...
NCOP Finance
Taxation Laws Amendment Bill, Tax Administration Laws Amendment, Rates & Monetary Amounts and Amendment of Revenue Laws Bill: briefing
19 Nov 2014
Rates and Monetary Amounts Bill
The majority of South Africans (8.8 million) earned less than R70 000 per year and the other 6.4 million people were spread over income brackets higher than that. The estimated income for this year was R335.9 billion and a significant part of that income was paid ...
NCOP Appropriations
2014 Division of Revenue Amendment Bill [B11-2014]: final mandates
18 Nov 2014
The Committee considered final mandates from the provinces on the 2014 Division of Revenue Amendment Bill. Eight provinces - Eastern Cape, Gauteng, KwaZulu-Natal, Limpopo, Mpumalanga, Northern Cape, North West and the Western Cape - all voted in favour of the Bill. The Free State was the only province whose final ...
NCOP Appropriations
2014 Division of Revenue Bill: negotiating mandates
11 Nov 2014
The Committee considered negotiating mandates from provinces on the 2014 Division of Revenue Bill. Support for the Bill was unanimous amongst the nine provinces. There were however some provinces which had made some recommendations. For example The Northern Cape Province had noted that no additional funding to provinces had been ...
Standing Committee on Appropriations
2014 Medium Term Budget Policy Statement: Financial and Fiscal Commission & Parliamentary Budget Office briefings
29 Oct 2014
The Joint Meeting of the Standing and Select Committees on Appropriations heard briefings from the Financial and Fiscal Commission and the Parliamentary Budget Office on the Medium Term Budget Policy Statement (MTBPS) 2014.
The Financial and Fiscal Commission gave an overall assessment of the MTBPS. It covered the consolidated fiscal ...