Fiscal Framework and Revenue Proposals

The Standing and Select Committees on Finance invite you to submit written submissions on the Fiscal Framework and Revenue Proposals, tabled together with 2014/15 Budget on 26 February 2014.

The Money Bills Amendment Procedure and Related Matters Act of 2009, defines the Fiscal Framework as follows:

"the framework for a specific financial year that gives effect to the national executive's macroeconomic policy and includes:
(a) estimates of all revenue, budgetary and extra-budgetary specified separately, expected to be raised during that financial year;
(b) estimates of all expenditure, budgetary and extra-budgetary specified separately, for that financial year;
(c) estimates of borrowing for that financial year;
(d) estimates of interest and debt servicing charges; and
(e) an indication of the contingency reserve necessary for an appropriate response to emergencies or other temporary needs, and other factors based on similar objective criteria."

Public hearings will be conducted at Parliament on Monday, 4 March 2014.

Submissions and your indication to make an oral presentation must be received by no later than 12:00 on Monday, 3 March 2014.

Comments can be emailed to Mr Allen Wicomb (Standing Committee on Finance) at [email protected] and Mr Zolani Rento (Select Committee on Finance), at [email protected] by no later than 12:00 on Monday, 3 March 2014

Enquiries can be directed to Mr Allen Wicomb on tel (021) 403 3759 or Mr Zolani Rento on tel (021) 403 8071.

Copies of the Fiscal Framework and Revenue Proposals will be available on 26 February 2014, from www.treasury.gov.za

Issued by: Hon. T.A. Mufamadi, MP and Chairperson: Standing Committee on Finance (National Assembly) and Hon. C.J. De Beer, MP and Chairperson: Select Committee on Finance (National Council of Provinces).