Not enough time for public to respond properly to fiscal framework, finance committees say
Time constraints meant there was limited time available for organisations to make submissions on the fiscal framework at public hearings on Wednesday, the chairpersons of Parliament’s two finance committees said on Tuesday. Chairperson of the standing committee of finance Yunus Carrim, and select committee on finance chairperson Charel de Beer explained in a statement that the Money Bills Amendment Procedure and Related Matters Amendment Act required that houses of Parliament finalise the fiscal framework within 16 days of the budget being introduced to Parliament. This is because the tax year begins on March 1 and the financial year on April 1 each year. "Only after the fiscal framework is adopted can other aspects of the budget, such as the Division of Revenue and Appropriations Bill, be processed and they must be finalised within 35 days of the adoption of the fiscal framework," they said. "We are, in fact, in the final stages of amending the Money Bills Amendment Procedure and R...
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