Parliament to consider the fiscal framework and revenue proposals for the 2025 budget
The framework is the blueprint for how the country plans to raise revenue, spend money and manage the country’s debt.
FILE: Finance Minister Enoch Godongwana delivers his maiden Medium-term Budget Policy Statement in Parliament on 11 November 2021. Image: GCIS.
CAPE TOWN - Finance Minister Enoch Godongwana will be hoping it’s second time lucky on Wednesday, when both houses of Parliament meet in separate sittings to consider the fiscal framework and revenue proposals for the 2025 budget.
The framework is the blueprint for how the country plans to raise revenue, spend money and manage the country’s debt.
The last framework had to be abandoned after ActionSA and Build One SA (BOSA) helped the African National Congress (ANC) get through a vote, while the Democratic Alliance (DA) and Economic Freedom Fighters (EFF) went to court over the Value-added Tax (VAT) increase it proposed to generate revenue.
Exactly three weeks since Godongwana tabled the national budget, he will be hoping the vote in the National Assembly is smoother than on the last occasion in March.
However, the two biggest opposition parties - the MK Party and the EFF - can be expected to challenge Godongwana’s framework with both parties vehemently opposed to an increase in the fuel levy which already took effect/
On Tuesday the MK party’s motion to censure Godongwana for what it termed the mishandling of the budget process, failed.
Parliamentary Spokesperson Moloto Mothapo explains what will be required to get the fiscal framework approved.
"The fiscal framework is being considered within the stipulated time frame of 16 days since the tabling of the budget. And in terms of voting requirements in the National Assembly, the fiscal framework consideration will require one third of MPs to be present, and the majority of those present must vote in favour of it to pass. [In the National Council of Provinces, at least five provinces must vote in favour for the fiscal framework for it to pass.] Only once the framework has been passed by both houses - will committees then set to work on processing the two money bills that apportion money to all spheres of government, and state departments."