2022 Revised Fiscal Framework and Revenue Proposals

The Standing Committee on Finance and the Select Committee on Finance invite you to submit written submissions on the 2022 Revised Fiscal Framework and Revenue Proposals

Submissions can be emailed to Mr Allen Wicomb at [email protected] and Ms Teboho Sepanya at [email protected] and Mr Nkululeko Mangweni at [email protected] by no later than 12:00 on Monday, 31 October 2022. If you intend to make an oral submission, this must be indicated.

The Minister of Finance (the Minister) tables the 2022 Medium Term Budget Policy Statement (MTBPS) before Parliament in terms of section 28 of the Public Finance Management Act 1 of 1999 (PFMA). This requires the Minister to table multi-year budget projections for revenue, expenditure and key macro-economic projections on an annual basis. The Minister will also meet his obligation under section 6(1) of the Money Bills Amendment Procedure and Related Matters Act 9 of 2009 that requires the Minister to submit to Parliament the MTBPS.

The mini-budget allows Parliament to approve departmental adjustments to their annual budgets, roll-overs, virements, shifts of funds within programmes and request additional funds for unforeseeable and unavoidable expenditure; indicates how the government intends to adjust spending estimates and update the budget and expenditure plans; Makes it possible for Parliament and the public to interact with the government's budget plans several months ahead of the budget set for February 2023; and is a mechanism to review the effective and efficient use of available resources.  

The Revised Fiscal Framework presents revised projections on broad budgetary total revenue, expenditure ,and borrowing for a given year, based on current and projected economic conditions

Public hearings will be conducted virtually on Wednesday, 02 November 2022.

Enquiries can be directed to Mr Allen Wicomb on cell 071 363 2349 or Ms Teboho Sepanya on cell 061 438 9448

MTBPS Documents

2022 Medium Term Budget Policy Statement (MTBPS) Speech

Division of Revenue Amendment Bill

Adjustments Appropriation Bill

Special Appropriations Bill

Rates and Monetary Amounts and Amendment of Revenue Laws Bill

Taxation Laws Amendment Bill

Tax Administration Laws Amendment Bill

All MTBPS documentation and data

2022 Medium-Term Budget Policy Statement (MTBPS) Explainer