Transcription of MEDIUM TERM BUDGET POLICY STATEMENT 97 - …
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MEDIUM TERM BUDGET POLICY STATEMENT 97 - …
MEDIUM TERM BUDGET POLICY STATEMENT 97 - intergovernmental financial RELATIONSC onstitutional contextBackgroundThere are three spheres of government: national, provincial and local. Each has responsibility forits own financial management and expenditure planning. Respect for this principle is thefoundation of the BUDGET sharesThe Constitution provides that each sphere of government is entitled to an equitable share ofrevenue raised nationally to enable it to provide basic services and perform the functionsallocated to it. The equitable division of revenue takes into account the functions assigned toeach sphere under the Constitution and the capacity of each government to pay for thesefunctions through own receipts and equitable share is an unconditional allocation to the national government, to each of the nineprovinces and to local government.
MEDIUM TERM BUDGET POLICY STATEMENT 97 - INTERGOVERNMENTAL FINANCIAL RELATIONS Constitutional context Background There are three spheres of government: national, provincial and local.
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