Election of Chairperson & Adoption of Draft Committee Programme

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Finance Standing Committee

10 May 2004
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Meeting report

FINANCE AD HOC COMMITTEE
11 May 2004
CHAIRPERSON ELECTION; DRAFT COMMITTEE PROGRAMME: ADOPTION

Chairperson:
Ms B Hogan (ANC)

Documents handed out:
Draft Committee Programme
Draft Proposed Legislation for 2004
Public Investment Bill

SUMMARY
Ms Barbara Hogan was elected as Chairperson and that draft Committee Programme was adopted. She pointed out that Parliament had indicated willingness to retain the Budget Committee or some other structure to take on some of the Committee's functions, which would be welcomed. The first formal Committee meeting would take place on the Friday 24 May.

MINUTES
The Committee clerk called for Chairperson position nominations. Mr K Moloto (ANC) nominated Ms B Hogan (ANC) for the post and Mr Ngiba (IFP) seconded this, and she was elected unapposed.

The Chairperson expressed appreciation and then turned to the draft programme. She had consulted Minister Travel Manuel about the draft legislative programme, and he had agreed that it was impossible to pass the proposed legislation in the current session. He had consequently referred the list back to National Treasury for prioritisation.

The Chairperson pointed out that Parliament had indicated willingness to retain the Budget Committee or some other structure to take some of the Committee's functions. This would make their workload far lighter. The Committee was currently faced with too wide an array of financial oversight functions and economic policy issues.

The Chair announced that the Committee would shortly hold a strategic planning meeting to plan the draft programme. This session would also help new members to get to know each other better.

The Chair made a general request to members to submit a written apology to the Committee clerk whenever they were absent from Committee meetings as this was important for record keeping.

Ms Talijaard (DP) asked about their primary oversight function with regard to the financial sector. Members were often saddled with voluminous documents during Department briefings. She suggested that Members be briefed on what to expect before such presentations.

The Chair agreed and noted that 28 May was scheduled for hearings on financial services. It was important that National Treasury furnish Members with sufficient information way ahead of this date.

Ms Talijaard suggested that, if the Budget Committee came into operation, it would be prudent to hold joint sessions to delineate functions in order to avoid duplication of business.

The Chair clarified that the a Budget Committee was only a tentative suggestion. She would welcome a Parliamentary body that dealt with the economic aspects of government policy. These matters would however be further discussed when more planning had been done.

Ms Talijaard raised the issue of members' difficult access to Parliamentary library services, and asked for guidance from the Chair.

The Chair asked Members to assist by submitting to the Committee clerk a list of journals, articles, periodicals, magazines etc that they subscribe to, so that these materials could be made available to them.

The Chair asked members to approve the draft programme, which was then unanimously passed. The first formal Committee meeting would take place on the Friday 24 May.

The meeting was adjourned.

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