The MEC for Finance, Mr Mandla Nkomfe will table the 2010 Medium Term Budget Policy Statement (MTBPS) and adjusted estimates of provincial expenditure to plan ahead for future funding allocations.
The provincial budget adjustments appropriation is a key legislative instrument used to revise and adjust budgets. This is in order to allocate additional funding that has become available, re-align the tabled budgets with the policy changes and to ensure that the remaining allocations take into account the actual service delivery plan for the remainder of the financial year.
The MEC will also table the 2010 Medium Term Budget Policy Statement (MTBPS) this is an important step in the budget process as it provides insight on the priorities of the next financial year and the entire medium term period (three years). It discusses the policy context and direction that will guide the tabling of the forth coming budgets.
The MTBPS also examines the trade-offs and choices that the provincial government confronts in its quest to meet both national and provincial policy imperatives. Good governance is about the electorate holding their political representatives accountable for their actions and the MTBPS allows the electorate to gain valuable insight into the challenges that confront politicians and how they hope to address them.
It is expected that the majority of the adjustment will be channelled towards Health and Social Development to boost the fight against HIV and AIDS. The Department of Local Government and Housing will also receive additional funds for the construction of more houses. Whilst programmes that promote social cohesion have been prioritised. Members of the media are invited; interviews will be conducted after the session on request.
Details are as follows:
Date: 26 November 2010
Venue: Gauteng Provincial Legislature
Time: 09h00
