Budget 2017: An assessment, with emphasis on the

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Budget 2017: An assessment, with emphasis on the fiscal framework and revenue proposals Mr Jugal Mahabir and Dr Seán Muller, Public and Environmental Economics Research Centre (PEERC), University of Johannesburg 1st March 2017 Critical

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Budget 2017: An assessment, with emphasis on the fiscal framework and revenue proposals Mr Jugal Mahabir and Dr Seán Muller, Public and Environmental Economics Research Centre (PEERC), University of Johannesburg 1st March 2017<br>
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Critical questions for the Finance Committees<br>
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Overall framework
an appropriate balance between revenue, expenditure and borrowing
adequate provision for spending on infrastructure development, overall capital spending and maintenance
take into account all public revenue and expenditure, including extrabudgetary funds, and contingent liabilities Specific requirements of Money Bills Act (2009): fiscal framework Debt
debt levels and interest costs are reasonable
cost of recurrent spending is not deferred to future generations
Economic context and impact
take into account cyclical factors that may impact on the prevailing fiscal position
consider short, medium and long term implications of the fiscal framework, division of revenue and national budget on the long-term growth potential of the economy and the development of the country<br>