House Chair, this is an accurate report reflecting what is happening in National Treasury and with its entities and we support the observations and the recommendations, contained in this report. It is concerning that National Treasury and the entities themselves do not comply with laws and regulations and that is findings by the Auditor General. If one looks at the regression from previous financial year and the fact that very few of the entities and the department, themselves could obtain clean
audit. That is concerning as National Treasury is the department that should ensure that other departments and municipalities, especially our metropolitan municipalities comply with laws and regulations.
We need an effective revenue collector free from mismanagement. One thing that is an observation and recommendation in this report is the lack of an independent tax ombudsman. At this stage the tax ombudsman is dependent on the revenue collector on South African Revenue Service, SARS, for its budget and for everything it needs to do its work. That is an area that should be addressed by us, as the Legislature we shouldn't get independent tax ombudsman. It's completely unacceptable that, that is not the currently.
It's also unacceptable that it was allowed by the ANC-led government that institutions such as the Public Investment Co- operation were allowed to be looted, where there is mismanagement, where they were allowed to be exploited and we do welcome the actions now taken by the new PIC Board where there is action taken to recover the lost monies and that is welcomed. I thank you.