Budget speech 3.0 to be delivered on Wednesday

JOHANNESBURG - The budget speech will be among the highlights of this week as part of the parliamentary programme, which also includes another grilling of the security cluster ministers by members of Parliament (MPs).

All eyes will be on Finance Minister Enoch Godongwana when he returns for a third attempt to table the budget at the Cape Town International Convention Centre on Wednesday.

The last two budgets, in February and March, were rejected by most parties because of abandoned value-added tax (VAT) increase proposals.

While MPs are familiar with the Cape Town International Convention Centre after being sworn in at the venue last year, it will be the first-ever budget speech to be tabled there.

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Godongwana's budget speech delivery will also touch on other money bills like the Division of Revenue and Appropriation bills when he presents a revised fiscal framework minus the VAT increase.

Godongwana will also outline how resources will be allocated to address the government’s priorities, and provide a growth forecast and projected GDP.

Parliament Spokesperson, Moloto Mothapo, explains the process.

"In the National Assembly, the fiscal framework will be considered on the 11th of June and must be adopted by a majority of members present in terms of the voting requirements. The division of revenue bill, which allocates funds across the three spheres of government will follow on the 26th of June and requires the support of the majority of the national assembly.”

Political party funding also makes a return this week, with the National Assembly to consider the portfolio committee on Home Affairs report on the Political Party Funding Act and the upper limit and disclosure of donations to political parties and independent candidates.