National Treasury that is supposed to oversee other departments is on wrong track itself

21 November 2019

The National Treasury, which is supposed to be the watchdog of the other departments, is on the wrong track itself according to the report issued by the Auditor-General (AG) on the National Treasury and its entities.

One of the most important points in the report is that the National Treasury and its entities do not comply with the laws and requirements for public financial management. There were only a few clean audits and there was a marked deterioration in this regard over the last year.

This is disturbing as the National Treasury is the one that is supposed to ensure that other departments and municipalities, particularly metropolitan municipalities, comply with the legal rules and regulations.

The FF Plus wants South Africa to have an effective tax collector that is independent and managed properly. There is certainly a need for an independent tax ombudsman.

At present, the ombudsman is totally dependent on the tax collector for its entire budget to enable it to function. Parliament will have to address this and make the necessary legislative amendments so that the ombudsman can function independently.

As regards the problems at the Public Investment Corporation (PIC), it is unacceptable that the ANC government has allowed mismanagement and looting to take root at an institution like the PIC.

Thus, the FF Plus welcomes the steps that the PIC has taken to recover the money that was unduly lost at the PIC.

Issued by Wouter Wessels, FF Plus MP and chief spokesperson: Finance, 21 November 2019