The Standing Committee on Finance and the Select Committee on Finance are moving closer to finalising their consideration of the 2026 Revised Fiscal Framework and Revenue Proposals, following a joint briefing by the National Treasury and the South African Revenue Service (SARS) on their responses to submissions received during public hearings.
The committees are considering the revised fiscal framework and revenue proposals in accordance with the Money Bills Amendment Procedure and Related Matters Act. They are scheduled to deliberate on and adopt their respective reports on the Revised Fiscal Framework and Revenue Proposals on 10 and 11 November 2026, respectively.
In terms of the Act, the committees are required to report to their respective Houses, the National Assembly and the National Council of Provinces, on the proposed fiscal framework for the next three financial years within 30 days after the tabling of the Medium-Term Budget Policy Statement (MTBPS).
The Minister of Finance, Mr Enoch Godongwana, tabled the 2026 MTBPS and revised fiscal framework in Parliament on Wednesday, 21 October 2026. He subsequently briefed the two committees on the MTBPS and revised fiscal framework and revenue proposals on Friday, 23 October6.
On Tuesday, 27 October, the committees received further briefings from the Parliamentary Budget Office and the Financial and Fiscal Commission on the same matters. These engagements formed part of the committees’ consideration of the fiscal and revenue proposals ahead of the public consultation process.
The public hearings held on Wednesday, 28 October, provided an opportunity for stakeholders to present their views and recommendations on the revised fiscal framework and revenue proposals. Twenty-two stakeholders made submissions, including Math is Mathing, Trinidad Bataung Ba Hlalele Royal Kingdom, Families4Children, Wits Applied Economic Development Students, Universal Basic Income, the Pan African Institute for Fiscal and Policy Studies, Chief Oupa Molefe, Wernian Analysis, the South African Institute of Chartered Accountants, the Congress of South African Trade Unions, South African Breweries and the Alternative Information and Development Centre, amongst others.
The committees will consider the issues raised during the public hearings, together with the responses provided by National Treasury and the South African Revenue Service, as they finalise their respective reports for consideration by Parliament.