Comment & Public hearings: Fiscal Framework and Revenue Proposals 2013/14

The Standing Committee on Finance and the Select Committee on Finance invites stakeholders and interested parties to submit written submissions on the Fiscal Framework and Revenue Proposals that will be tabled together with the2013/14 Budget on 27 February 2013.

The Money Bills Amendment Procedure and Related Matters Act, Act No 9 of 2009, defines the fiscal framework as follows:

the framework for a specific financial year gives effect to the national executive's macroeconomic policy and includes:

(a) estimate of all revenue, budgetary and extra-budgetary specified separately, expected to be raised during that financial year;
(b) estimate 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 objectives criteria.

Public hearings will be held in Parliament on Tuesday & Wednesday, 5 & 6 March 2013

Comments can be emailed to Mr Allan Wicomb at [email protected] and Mr Zolani Rento [email protected] by no later than 12:00 on Monday, 4 March 2013

Enquiries can be directed to Mr Allan Wicomb on tel (021) 403 3759 or Mr Zolani Rento on tel (021) 403 8071
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Copies of the Fiscal Framework and Revenue Proposals will be available on 27 February 2013 atwww.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).