Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

'SA parliament like Haiti'

Jan 28 2010 08:46 Jean-Marie de Waal

Related Articles

State run like 'spaza shop'

'ANC must answer' - Holomisa

Govt 'bad at handling money'

 

Top Stories

Cell C move sparks price war

May 27 2012 11:21

There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.

Another golf estate victim

May 27 2012 13:09

The oversupply of golf estates has claimed another victim.

Tupperware agents incensed by fakes

May 27 2012 11:49

The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.

 
Share Share line Print

Cape Town - ANC members chairing committees in parliament have serious misgivings as to whether they are able to exercise the power of review over financial legislation they were accorded in 2009.

The 30-odd ANC chairpersons (of a total of 50) who attended a working session on the new legislation concur that they in no way possess the skills or resources required to assume a supervisory role. They fear that doing so could possibly lead to legal challenges.

The members pleaded for training because most of the 454 MPs in parliament are new and, as one remarked, not accountants.

Joan Fubbs, who chairs the portfolio committee on trade and industry put it this way: parliament's resources basically resemble those of Haiti - a country destroyed by earthquake two weeks ago.

Previously, in terms of a Constitutional provision, only the Minister of Finance could submit financial legislation on budgets and taxation. But the Constitution also requires the introduction of legislation on a procedure to amend financial legislation.

Thus, after years of difficulties, the act was promulgated in April last year and for the first time allowed MPs and the broad public to participate in the budgetary process.

It would seem that the extension of parliament's role of oversight of fiscal policy could aggravate the tension that already exists between the executive and the legislative authority.

Fatima Chohan, who chairs the committee on basic education, believes the executive authority will no longer be able to "ignore" parliament.

- Sake24.com

For more business news in Afrikaans, go to Sake24.com.

 
 
Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
It pays to know the cost and what you’re getting in return
May 28 2012 09:33

Investors may not have a clue what they’re paying their money managers or they type of service they’re getting, or, whether they can actually negotiate lower fees. (Reuters)

Perfin

I arranged two workshops in Cape Town at the Cape Chamber of Commerce offices as well as two computer based workshops, one on Google Adwords and another on Joomla Administrator at the training centre in Somerset West. Emarketing Workshops - http://emarketingworkshops.co.za/next-workshops 1. Interne... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...