Hon. MEC and Members; Provincial Treasury with its budget of R721 million, is supported by the MF.

However, the objectives set out as per program to maximise, taxpayers returns, Hon. MEC is not without risk. Your speech summed this up by emphasizing budget, budget reform and display.

Financial Management is key the successful outcomes of the objectives and Treasury, understands the time value of money, hence this Hon. House will monitor the utilisation of the R120 million EU grant because the Finance report states R41,6 million and the September report must explain this.

What the balance sheets or financials do not show, are things that cannot be expressed in monetary terms, eg. Efficiency of management, possible future loss caused by current unresolved labour disputes, currency devaluation, etc. and of course, “private virtue”.

What would assist in times of cost cutting or austerity is risk management exercises in these areas and PPP unit beefed up, as reported in the strategic plan, with respect to the, “unavailability of appropriately skilled and unexperienced staff”.

With these words, the MF support this budget, noting that the MEC and her staff are dedicated and receptive to recommendations and the MF will request for the financial literacy program to be rolled out in some areas.

Thank you.

Shameen Thakur-Rajbansi