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MEDIUM-TERM BUDGET POLICY STATEMENT: DATE CONFIRMED
- 12 September 2023
- Parliament
- SA Legal Academy
National Treasury has issued a press release confirming that Finance Minister Enoch Godongwana will table the Medium-Term Budget Policy Statement (MTBPS) in Parliament on 1 November 2023.
Also known as the Mini Budget, according to the Parliamentary Monitoring Group the MTBPS is traditionally tabled:
- approximately three months before the following year’s national Budget, and
- immediately after parliamentary committees have scrutinised the latest departmental budget review and recommendation reports on spending and related outcomes during the first half of the current fiscal year.
Among other things the MTBPS reflects:
- adjustments to the budgets of government departments for the second half of the fiscal year
- sets out the policy framework for the next financial year, and
- makes emergency allocations when necessary.
It is tabled with the revised versions of draft Bills giving effect to the national Budget. This year, National Treasury released these draft Bills in two sets for public comment. Those dealing with proposals giving effect to the two-pot retirement system were published in June. One draft tax Bill was released in February on its own for a first round of public comment. A revised draft was released in July with first drafts of the other two tax Bills.
All five Bills are now before the National Assembly’s Standing Committee on Finance and are:
- the draft Rates & Monetary Amounts & Amendment of Revenue Laws Bill
- the draft Taxation Laws Amendment Bill
- the draft Tax Administration Laws Amendment Bill
- the draft Revenue Laws Amendment Bill, and
- the draft Revenue Administration & Pension Laws Amendment Bill.
Following a call on 20 August 2023 for written submissions, parliamentary hearings on these draft Bills are scheduled to take place on 19 and 20 September 2023.
- press release
- SA Legal Academy report on the call for submissions
Published by SA Legal Academy Policy Watch