Economic Development Budgetary Review and Recommendation Report: discussion

Economic Development

24 October 2011
Chairperson: Mr Z Ntuli (ANC)(Acting)
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Meeting Summary

The Budget Review and Recommendation Report (BRRR) was officially tabled and briefly discussed. It was highlighted that the report contained no reference to the current merger of Khula and the South African Micro-Finance Apex Fund.

The Acting Chairperson proposed that Members should consider the contents of the Report in study groups and submit their recommendations to the Committee Secretary on Friday morning.  The Report, with the recommendations, would be discussed and adopted at the committee’s meeting on Tuesday, November 1.  The proposal was adopted unanimously.


Meeting report

Election of Acting Chairperson
In the absence of the Chairperson, Ms E Coleman (ANC), Mr Z Ntuli (ANC) was proposed by Mr X Mabasa (ANC) and seconded by Mr N Singh (IFP) to serve as Acting Chairperson.  The proposal was accepted unanimously.

Economic Development Budgetary Review and Recommendation Report
The Budget Review and Recommendation Report (BRRR) was officially tabled.

There was brief debate about the format of the Report, and the sequencing of the Table of Contents, but Mr Singh advised Members that the format was in accordance with a universal BRRR template issued for use by all committees. 

This was confirmed by Mr Pilate Gwebu, Secretary of the Committee.

Ms S van der Merwe (ANC) said there were certain issues she wished to raise regarding the recommendations contained in the report.  For instance, there was no reference to the current merger of Khula and the South African Micro-Finance Apex Fund (SAMAF) – a priority issue which required comment from the Committee so that its views were clearly stated. She objected to the use of the word “perhaps” in the recommendation: “Create conditions that are conducive for venture capital development, and perhaps use tax incentives to encourage risk taking.”   She pointed out that “CIPRO” had been referred to in a recommendation, but it was now called “CIPC” (the Companies and Intellectual Property Commission).  She also asked whether the recommendation that an “SMME University” should be established, meant that it was intended to be created within an existing institution, or as a completely new body.

The Acting Chairperson proposed that Members should consider the contents of the Report in study groups and submit their recommendations, for collation, to the Committee Secretary on Friday morning.  The Report, with the recommendations, would be discussed and adopted at the committee’s meeting on Tuesday, November 1.  The proposal was seconded by Mr Mabasa, and adopted unanimously.

The meeting was closed.





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