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SAICA and policy institute challenge Treasury's fiscal anchor plan

Published

At public hearings on the Medium-Term Budget Policy Statement, SAICA said it wants a fixed numerical target for the fiscal anchor. The Pan-African Institute for Fiscal and Policy Studies said Parliament, not the Financial and Fiscal Commission, should assess it.

Lesedi Seforo of SAICA said the institute supports the principle of a fiscal anchor. He said it needs to be a fixed target, like inflation targeting, to give government something to work towards.

Dumisani Jantjies spoke for the Pan-African Institute for Fiscal and Policy Studies. He is a former head of Parliament's Budget Office. He said the anchor answers to Parliament, so Parliament's own budget office should assess it.

Jantjies said: "Parliament must be able to require a revised plan, not just receive explanations, which raises the question: who must assess this?" He said the role of the Financial and Fiscal Commission should remain one of intergovernmental oversight.

Treasury had suggested that the commission oversee the fiscal plan. Finance Minister Enoch Godongwana announced the fiscal anchor when he tabled the Medium-Term Budget Policy Statement.

Key facts

Who
Enoch Godongwana (Finance Minister, announced the fiscal anchor when tabling the MTBPS); Lesedi Seforo (SAICA representative who spoke at public hearings); Dumisani Jantjies (Pan-African Institute for Fiscal and Policy Studies; former head of…); South African Institute of Chartered Accountants (organisation making submission to Parliament)
What
During public hearings on the Medium-Term Budget Policy Statement, SAICA said it supported the principle of a fiscal anchor but wanted a fixed numerical target, while the Pan-African Institute said Parliament, not the Financial and Fiscal Commission, should assess the anchor.
When
28 October 2026
Where
South Africa
Status
Reported

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