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{
    "id": 1517147,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1517147/?format=api",
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    "content": "2. The financial outlook with respect to Government revenues, expenditures and borrowing for the next financial year and over the medium term. 3. The criteria used to allocate or apportion the available public resources among the two levels of Government and various programmes and projects. 4. The proposed expenditure limits for the national Government, including those of Parliament and the Judiciary and indicative transfers to county governments. 5. The fiscal responsibility principles and financial objectives over the medium- term, including limits on total annual debt. Hon. Senators, as you are also aware, Section 25 (7) of the Public Finance Management Act provides as follows- “Parliament shall, not later than fourteen days after the Budget Policy Statement is submitted to Parliament, table and discuss a report containing its recommendations and pass a resolution to adopt it with or without amendments.” With respect to consideration of the Budget Policy Statement (BPS), the Senate Standing Order No.186 (4) states that upon being read before the Senate, the Budget Policy Statement shall be committed to each Standing Committee to consider and submit its recommendations to the Standing Committee on Finance and Budget within seven days. Pursuant to Standing Order No.186(5), the Standing Committee on Finance and Budget is required within twelve days following the tabling of the BPS, to consider the BPS and the recommendations received under Paragraph (iv) and table a report for consideration in accordance with Section 25(7) of the Public Finance Management (PFM) Act. Cognizant of the importance of the BPS and the above timelines, I direct that the BPS be considered by all standing committees. Each committee is expected to concentrate on matters that fall under its mandate, highlighting any policy and financial recommendations thereof. These recommendations should be forwarded to the Standing Committee on Finance and Budget on or before Thursday, 20th February, 2025. Thereafter, the Standing Committee on Finance and Budget will be required to consider the recommendations from the other Standing Committees as well as to consult the institutions referred to under Standing Order No.186(6) in finalising its report on the BPS. The Standing Committee will be required to table its report on or before Tuesday, 25th February, 2025. Consequently, the Senate will be required to consider and make a determination on the report by the Standing Committee on Finance and Budget by Thursday, 27th February 2025. Hon. Senators, in a nutshell, it means that any proposal that Senators have regarding the BPS, the draft Division of Revenue Bill 2025, the draft County Allocation of Revenue Bill, 2025, the draft County Governments Additional Allocations Bill 2025, and the financing structure therein, among other recommendations, must be canvassed and forwarded to the Cabinet Secretary for the National Treasury and Economic Planning for consideration when finalising the Budget for the relevant financial year."
}