Latest news with #AppropriationBill
Zawya
14 hours ago
- Business
- Zawya
South Africa: National Council of Provinces Passes Two Bills
The National Council of Provinces (NCOP) passed the 2025 Appropriation Bill and the Eskom Debt Relief Amendment Bill during its plenary sitting held today. The Appropriation Bill is a key part of the national budget. It outlines how government funds will be allocated among various departments. Section 27(1) of the Public Finance Management Act requires the Minister of Finance to table the annual budget for a financial year in the National Assembly before the start of that financial year or, in exceptional circumstances, on a date as soon as possible thereafter. The Minister of Finance tabled the National Budget for the 2025/26 financial year, including the Appropriation Bill and the Eskom Debt Relief Bill, in May this year. Following the passing of the Bill in the National Assembly last week, the Appropriation Bill was subsequently referred to the Select Committee on Appropriations for consideration and reporting back to the NCOP plenary sitting for adoption. This Bill is the law that authorises government to use public funds for various departments and entities, enabling them to deliver services and develop infrastructure and social programmes such as healthcare, education and social grants, while also supporting economic growth. The Bill also focuses on job creation and addressing unemployment. On the other hand, the main objective of the Eskom Debt Relief Bill is to amend the Eskom Debt Relief Act of 2023 by reducing the financial requirements for Eskom for the 2025/26 financial year. It proposes that the entire amount for that year be treated as a loan, which can be converted into equity upon the fulfilment of certain conditions. The Bill also introduces interest into the Eskom debt relief package at a market-related rate. The aim is to balance the interest charge and Eskom's cash flow, while reflecting a fair market-related rate. This is part of ongoing interventions to stabilise the power utility, which has faced years of operational challenges and financial crisis, and to modify its debt relief plan. Now that the Bill has been passed, there is hope that Eskom will have a more enabling balance sheet to spend more money on improving its capacity to supply electricity. These two Bills passed by the NCOP will now be sent to the President for assent, as required by the Constitution. Once Parliament passes the Appropriation Bill and signed into law by the President, government departments are allocated funds and commence implementing their approved spending plans. Parliament then exercises ongoing oversight through its portfolio and select committees to ensure accountability in the use of public funds. The Auditor-General conducts independent audits of departmental spending and reports the findings to Parliament. Where instances of financial mismanagement or underspending are identified, Parliament may recommend corrective action to ensure responsible and effective use of public resources. Distributed by APO Group on behalf of Republic of South Africa: The Parliament.
IOL News
14 hours ago
- Business
- IOL News
NCOP approves Appropriation Bill, marking a pivotal moment in the 2025/26 Budget process
The Appropriation Bill was passed by the National Council of Provinces, with 51 votes in favour and nine against. Image: Armand Hough / Independent Newspapers The National Council of Provinces (NCOP) on Wednesday passed the Appropriation Bill, concluding the legislative journey of the 2025/26 budgetary process within Parliament. The Bill, the first introduced by the Government of National Unity (GNU), received a generally smooth passage during its consideration earlier in the day. The MK Party and EFF objected to each department budget, while the Freedom Front Plus abstained on the vote of the Department of Employment and Labour. A total of 51 delegates to the NCOP voted in favour of the Appropriation Bill, with support from the ANC, DA, IFP, Freedom Front Plus, Patriotic Alliance, and the UDM. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ The EFF and MK Party voted against with nine votes. 'Accordingly the Bill is agreed to in terms of Section 75 of the Constitution,' said NCOP chairperson Refilwe Mtsweni-Tsipane when she announced the voting results. The Bill will now be sent to President Cyril Ramaphosa for assent and government departments allocated funds will start implementing their approved spending plans. ANC MP Cecilia Sylvia Nxumalo said the budget will improve the three priorities of the GNU, support infrastructure development, and allocate funds for the social protection programme. 'We will ensure robust oversight and accountability of allocated funds. We call on all accounting officers to take decisive action against mismanagement of funds and the findings of the Auditor-General should be responded to effectively,' said Nxumalo. DA MP Denis Ryder said the Budget proposals reflected a compromise position that can take South Africa forward. 'What we have today is a product of strong political and technical engagement and application. What we have today is a Budget that deserves a chance to show South Africa what can be done,' said, Ryder, adding that VAT increases were avoided and they have seen a move against tainted ministers. He also said that while no budget was perfect, balancing the many needs and desires of people within limited resources meant that there would always be disappointments. 'This is a symptom of a lack of economic growth. If this Budget is to succeed, it needs a strong focus on the little we have on projects that ignite growth and create jobs for ordinary South Africans while cutting wastage and corruption activities.' Ryder also said it was important that the portfolio committee ensured funds were spent efficiently and the spending reviews were important to do the right thing for the people. MK Party's Mmabatho Mokoena said her party would not pretend the Budget was for the people. 'In reality, it is a lifeline for your corrupt politicians, failing and bloated departments that can never deliver a simple toilet without a scandal. You call it the appreciation bill. We call it a misappropriation bonanza,' Mokoena said. 'The MP Party objects loudly and proudly because we were not sent here to clap for crumbs. We were sent here to hold the line for the poor, the hungry, and the forgotten.' EFF MP Mathapelo Siwisa said they could not agree to an austerity Budget. Siwisa said they made proposals on all departments to express the frustrations and desperation of the people. 'We don't object to the departments' budgets. When we stand up here and reject the proposed Budget, we are not objecting to service delivery. We are objecting to a senseless Budget. This Bill is a mockery to our people as it misses critical funding in basic education, health, road, and water infrastructure,' she said, adding that the Bill should be amended. IFP MP Les Govender said the allocation of budgets to every department was essential. 'If we do not give budgets to those departments, how do we provide services to the very people that I'm surprised that we parties are saying we object to the Budget, but they want services to their people now, here to speak in their interest. 'Now, if you take municipalities, for example, they are the core of service delivery. If you do not allocate budgets to them, how do they give services to our people?' Govender said. Freedom Front Plus MP Tamarin Breedt noted that the majority of spending allocation was to essential services like education, health, and social development. 'The VF Plus remains concerned about value for money. Billions are appropriated, but outcomes remain disappointing, especially at the local government level.'
IOL News
16 hours ago
- Business
- IOL News
NCOP approves Appropriation Bill and Eskom debt relief amendment
The National Council of Provinces has taken decisive action to bolster South Africa's economic future and address Eskom's financial crisis by passing the 2025 Appropriation Bill and the Eskom Debt Relief Amendment Bill during its plenary sitting on Wednesday. These legislative measures pave the way for government funding and address the financial woes plaguing Eskom, a central player in the nation's energy landscape. The Appropriation Bill holds a critical position within the national budget framework. Under Section 27(1) of the Public Finance Management Act, the Minister of Finance is obligated to table the annual budget before the National Assembly prior to the commencement of each financial year. This year's National Budget, encompassing both the Appropriation Bill and the Eskom Debt Relief Bill, was introduced in May. It follows the recent approval of the Bill in the National Assembly last week, subsequently sending it to the Select Committee on Appropriations for further consideration before returning to the NCOP for final adoption. This crucial Bill authorises the government to utilise public funds across various departments and entities, enabling them to provide essential services and invest in infrastructure projects and social programmes such as healthcare, education, and social grants.
News24
16 hours ago
- Business
- News24
Parliament finally passes 2025 Budget
The National Council of Provinces has passed the Appropriation Bill, finalising Budget 2025's journey through Parliament. The MKP and EFF opposed the Bill, with 51 MPs supporting it, nine opposing it, and no abstentions during the vote. The Bill now awaits President Cyril Ramaphosa's assent to become an Act. The National Council of Provinces passed the Appropriation Bill on Wednesday, bringing Budget 2025's fraught passage through Parliament to an end. All that remains is President Cyril Ramaphosa assenting to the Money Bill making up the Budget, the first introduced by the government of national unity. If Parliament had failed to pass the Bill by the end of this month, it would have had dire effects on the government's ability to use its funds, with Deputy Finance Minister David Masondo having warned the National Assembly last week when the Appropriation Bill was before that House, that government would be unable to withdraw money by October if the Budget didn't pass. The proceedings in the NCOP weren't as drawn out as the ones in the National Assembly last week, and it appears that the MKP on Wednesday correctly expressed their vote against the Bill, unlike last week. There were 51 MPs in support of the Bill, nine against, and no abstentions. It was the MKP and EFF who opposed the Bill, while the GNU partners represented in the NCOP – the ANC, DA, IFP, PA, FF Plus and UDM – all supported it. The MKP and EFF also objected to all the departmental budget votes, while the GNU parties supported all of them, bar the Employment and Labour Budget, from which the FF Plus abstained, as they did in the National Assembly last week. According to a statement from Parliament, 'once passed by both Houses of Parliament, the Bill will be sent to the President for assent and becomes an Act of Parliament after being signed by the President'.
Eyewitness News
a day ago
- Business
- Eyewitness News
NCOP will consider & adopt Appropriation Bill to finally put 2025 budget to rest
CAPE TOWN - The National Council of Provinces (NCOP) will on Wednesday morning consider and adopt the Appropriation Bill to finally put the 2025 budget to rest. The Appropriation Bill was adopted by the National Assembly last week after months of delays due to disagreements in the Government of National Unity (GNU), which included court challenges by the Democratic Alliance (DA) and the Economic Freedom Fighters (EFF). The NCOP will also consider and adopt the Eskom Debt Relief Amendment Bill, which amends the original Eskom Debt Relief Act to introduce interest payments on loans provided to Eskom. As is the case with all money bills accompanying the budget, the NCOP also has to approve them to pave the way for the finalisation of the budget process. The Appropriation Bill provides for the apportioning of funds from the National Revenue Fund for the 2025/26 financial year. This includes transfers to provinces and municipalities through conditional grants, equitable shares and other funding methods. Select Committee on Appropriations chairperson Tidimalo Legwase said on Tuesday that this was one of the longest terms due to the lengthy budget process. 'Colleagues, this also marks the final and official sitting of the committee, which will be one of our last, one of the very longest second term of the 2025 parliamentary programme.' Once the NCOP adopts the Appropriation Bill, departments will receive their full allocations to implement their various programmes.
