Report on Medium Term Budget Policy Statement 2004, Committee Annual Report: adoption

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Finance Standing Committee

04 November 2004
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Meeting report

FINANCE PORTFOLIO COMMITTEE


5 November 2004
REPORT ON THE MEDIUM TERM BUDGET POLICY STATEMENT 2004, COMMITTEE ANNUAL REPORT AND MINUTES: ADOPTION

Chairperson: Dr R Davies (ANC)

Documents handed out

Report on the Medium Term Budget Policy Statement
Committee Annual Report, June - November 2004 (document awaited)

SUMMARY
The Committee adopted a report on the Medium Term Budget Policy Statement (MTBPS) 2004 without comment. The Annual Report of the Committee was adopted with minor amendments. Committee minutes from 25 August 2004 to 3 November 2004 were adopted with some insertions and textural amendments.

MINUTES

Report on the Medium Term Budget Policy Statement 2004
The Chairperson put the Report on the MTBPS to the Committee and it was adopted without comment.

Committee Annual Report
Ms R Joemat (ANC) confirmed that the Committee had met with the Financial and Fiscal Commission (FFC). The Chairperson agreed that the Chairperson's report should state that the Committee had been unable to meet with any bodies "except the FFC".

Ms B Hogan (ANC) asked whether there was sufficient understanding of all role-players in the meeting with NEDLAC. The Chairperson replied that the Chairperson's report should elaborate on the NEDLAC meeting.

Mr K Durr (ACDP) felt that the Committee's relationship with the NCOP Select Committee should be mentioned, possibly under "Goals and Objectives". The Chairperson suggested adding: "The Committee developed a close working relationship with their counterparts in the National Council of Provinces and we wish to express our thanks to the Chairperson for this relationship".

Mr Durr suggested that there should also be mention of the inadequate time available for consideration of Bills. The Chairperson felt that this had been covered in his report, in the division of labour between the Committee and the Joint Budget Committee.

Ms Joemat suggested that mention should be made of the Committee's participation in a workshop with the Life Officers Association of South Africa (LOA) and the South African Insurance Institute. The Chairperson concurred.

The Chairperson noted that, under paragraph 4.1.1.1, the agreement with the Kingdom of Swaziland presented on 8 June 2004 to the Ad Hoc Committee.

Mr Durr felt that the heading of paragraph 4.1.1.2, "Hearings on matters of public interest, if any "should be amended to remove "if any", as this trivialised the report.

The Chairperson proposed that the paragraphs from the minutes on the meetings with NEDLAC be transposed into this paragraph. The item on the LOA workshop should be inserted as paragraph 4(2)(6).

In terms of the Committee's budget, some would disappear when a Research officer was appointed, probably before the end of the year. There was also a proposal to visit Australia that ran a dual regulation system for financial institutions. It was proposed that the possibility of a visit to New Zealand be included. The airtickets should be purchased out of this budget. The proposal was approved.

Ms Hogan pointed out that the Committee had only been set up in June and said this might be a basis for a motivation for the roll-over of budget funds.

Some typographical errors were noted and it was agreed that these would be corrected. The Annual Report was adopted, with amendments.

Minutes of meetings
The Committee's Secretary's minutes of 25 August to 3 November 2004 were adopted with minor text amendments. Under the minutes of 14 September, Ms Hogan noted that the South African National Defence Force Union had agreed to write a letter and asked whether this had been received. The Chairperson replied that no letter had been received and suggested that they be contacted.

Regarding the minutes of the meeting of 6 October 2004, Ms Hogan said it would be useful for the Committee to hear from National Treasury and the Statistics SA Council on whether their recommendations had been agreed to, particularly in respect of the census replacement survey. The Chairperson replied that the recommendations had been carried over into the report, which had been adopted. The reports had been handed over to the Executive, who was supposed to respond to them. The Secretary was asked to remind National Treasury and to ask for a response.

With regards to the minutes of the 12 October meeting, Ms Hogan suggested a researcher take detailed comments on amendments so that there was an official record. The Chairperson agreed that the Committee needed to increase its capacity to produce amendments. The process of recruiting a researcher needed to be finalised. Pace was also a problem, as had been experienced with the Revenue Laws Amendment Bill.

The meeting was adjourned.

 

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