THE TREASURY
XOLISA PHILLIP: Hope for guardian of SA’s fiscal health and acceptable standards
The real question is whether or not Malusi Gigaba will tap the Treasury's talent to create an enabling environment
Is there a brain drain at the Treasury? The short answer is no. And the long answer is that giving meaning to the question is a bit more complicated and nuanced, and depends exactly where you are looking. The Treasury has been built up over the years into an institutional monolith, with powers that are embedded and entrenched in the Constitution. Chapter 13 of the Constitution gives life and expression to the Treasury’s mandate, compelling it to do several things, including enforcing compliance with acceptable norms and standards. There is also a suite of other legislation — including the Public Finance Management Act and the Municipal Finance Management Act — and regulations that provide guidance on how the fiscus gives expression to its constitutional mandate. "The National Treasury must enforce compliance with the measures established in terms of subsection (1), and may stop the transfer of funds to an organ of state if that organ of state commits a serious or persistent material...
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