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{
    "id": 982176,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/982176/?format=api",
    "text_counter": 46,
    "type": "speech",
    "speaker_name": "Hon. Lusaka",
    "speaker_title": "The Speaker",
    "speaker": null,
    "content": " I have a Communication on the processing of the Budget Policy Statement 2020. (1) Hon. Senators, as you may have noted, the Senate Majority Leader has tabled the Budget Policy Statement for the Financial Year 2020/2021. (2) Section 25 of the Public Finance Management Act and Standing Order No.180 of the Senate requires the National Treasury to prepare and submit the Budget Policy Statement to Parliament by 15th of February each year. (3) Hon. Senators, by a letter Ref. No. Conf.MOF83/02TY.5/(45) dated 13th February, 2020, and received in the office of the Clerk on 13th February, 2020, the Cabinet Secretary for the National Treasury submitted the following documents for consideration and approval by Parliament- (a) The Budget Policy Statement, 2020; (b) The Medium-Term Debt Management Strategy, 2020; (c) The Draft Division of Revenue Bill, 2020; and, (d) The Draft County Allocation of Revenue Bill, 2020. (4) Hon. Senators, the Budget Policy Statement is an important tool as it sets out the broad strategic priorities and policy goals that will guide the national Government and county governments in preparing their budgets both for the following financial year and over the medium-term. It contains, among other things- (i) an assessment of the current state of the economy and the financial outlook over the medium-term, including the macro-economic forecasts; (ii) the financial outlook with respect to Government revenue, expenditures and borrowing for the next financial year and over the medium term; (iii) the proposed expenditure limits for the national Government, including those of Parliament and the Judiciary and indicative transfers to county governments; (iv) the fiscal responsibility principles and financial objectives over the medium- term including limits on total annual debt; and, (v) the proposed division of revenue, including proposed conditional grants, if any. (5) In a nutshell, it means that any proposal that Senators have regarding the Division of Revenue Bill and the County Allocation of Revenue Bill, including funds for conditional allocations to the counties, should be canvassed and forwarded to the National Treasury for possible factoring in the Budget Policy Statement, failure to which, it will be difficult for changes to be accommodated later on. (6) Hon. Senators, Section 25 (7) of the Public Finance Management Act provides as follows- “25 (7) Parliament shall, not later than 14 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.” The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}