The Financial and Fiscal Commission (FFC) is an independent juristic entity subject only to the Constitution, Financial and Fiscal Commission Act, 1997 (Act No 99 of 1997) and relevant legislative prescripts. The Commission acts as a consultative body, makes recommendations and gives advice to the three spheres of Government and other organs of State on the equitable division of revenue and any other financial and fiscal matters.

The Submission for the 2023/24 Division of Revenue tabled in Parliament in terms of Section 214(1) of the Constitution of the Republic of South Africa, 1996, Section 9 of the Intergovernmental Fiscal Relations Act, 1997 and Section 4(4c) of the Money Bills Amendment Procedure and Related Matters Act, 2009 as amended will be considered according to the parliamentary, provincial and local governmental processes.

The FFC Submission for the 2023/24 Division of Revenue, under the theme of “Addressing socio-economic vulnerabilities through fiscal transparency and strategy”, emphasises the importance of good governance and coherent, goal-oriented long-term planning across the intergovernmental fiscal relations system in key sectors to buoy growth and development. The Submission is comprised of chapters on combatting corruption and unemployment; evidence-informed policy research on debt, income inequality, consumption behaviour of social grants and public sector wage trends; and subnational foci on reviewing and refining division of revenue instruments.

The Commission will be briefing the media and the public on the Submission on Thursday 2 June 2022.

Source: Government of South Africa