Parliament is expected to prioritize, consider and approve the Budget Policy Statement (BPS) for 2021/22 and the Annual Revenue Bills.
This is to happen as soon as the National Assembly resumes its regular sittings this Tuesday, 9th February 2021, commencing at 2.30 p.m.The law requires this to happen before 15th February 2021.
Parliament’s timelines on BPS
The Public Finance Management Act, 2012, requires that the National Treasury submit this policy paper for tabling in the House by 15th February each year.
The policy document is then to be subjected to scrutiny by watchdogs, including the budget and appropriations Committee and 15 Departmental Committees before approval by the House.
This will pave the way for the introduction and passage of the annual and usually controversial bills that deter how to share national revenue and what is allocated to each country.
Division of Revenue and County Revenue Allocation Bills
The Division of Revenue and County Revenue Allocation Bills are at the top of parliament’s priority list during its fifth session.
National Treasury has already finalized the draft BPS 2021/22, which is now available on its website.
Treasury had invited public members to make general and specific comments on this draft policy paper, before it could receive cabinet approval, by close of business on February 1st, 2021.
The law requires that National Treasury seeks and considers the views of stakeholders and the public in preparing this budget policy document submitted to Cabinet for approval and passing by the House.
The list of those to give their views includes Commission on Revenue Allocation; County Governments; Controller of Budget; The Parliamentary Service Commission; The Judicial Service Commission; The Public; and Any other interested persons or groups.