DA briefs Standing Committee on Finance on two Private Member’s Bills dealing with fiscal responsibility and pension funds
16 March 2021
Today, Democratic Alliance (DA) Members of Parliament Geordin Hill-Lewis MP and Dr Dion George MP, who serve as the Shadow Minister and Shadow Deputy Minister of Finance respectively, briefed Parliament’s Standing Committee on Finance on two separate Private Member’s Bills (PMBs).
Hill-Lewis briefed the committee on his Fiscal Responsibility Bill that was introduced to the National Assembly on 9 March 2020.
The Bill introduces, for the first time in South Africa, a statutory fiscal rule to control national debt and debt service costs. The Bill:
Requires that government debt, expressed as a percentage of GDP does not increase year on year;