2024 MTBPS: Parliament Clarifies Adjusted Processing Timeline

Posted 23 September 2025 Written by Acts Online
Category Parliament

Brought to you by SA Legal Academy: Parliament has clarified the adjusted schedule for the 2024 Medium-Term Budget Policy Statement (MTBPS) following changes to the national budget cycle.

In terms of the Money Bills Amendment Procedure and Related Matters Act, No. 9 of 2009, the MTBPS is a critical statutory requirement that sets out the government’s medium-term expenditure framework and fiscal policy objectives. Parliament confirmed that the late introduction of the 2025/26 Budget in May 2025 necessitated a shift in the traditional October cycle to ensure that legislative scrutiny and public participation remain robust and compliant with constitutional requirements.

The 2024 MTBPS is scheduled for tabling by the Minister of Finance on 30 October 2024. According to the Parliamentary media statement, the adjusted timeline is designed to accommodate unavoidable delays without compromising accountability. The processing of the statement and accompanying legislation will include:

  • The formal tabling of the MTBPS, the Adjusted Budget, and the Division of Revenue Amendment Bill;
  • Legislative hearings and public participation processes conducted by the Standing and Select Committees on Finance and Appropriations; and
  • The adoption of the fiscal framework and relevant amendment bills before the festive season recess.

The National Treasury confirms that the MTBPS provides the necessary context for the upcoming national budget by outlining economic forecasts, fiscal targets, and proposed adjustments to departmental allocations for the current financial year.

What this means for you, your business, or your clients

  • For yourself: No direct individual compliance obligation; monitor the 30 October 2024 tabling for updates to personal income tax thresholds or policy shifts that may be signaled for the 2025/26 cycle.
  • For your business: Update internal compliance and tax planning calendars to reflect the compressed window for legislative feedback and public comment following the 30 October 2024 tabling.
  • For your clients: Advise clients that fiscal policy certainty and adjusted expenditure frameworks will only be finalised following the late October parliamentary cycle, potentially impacting year-end financial reporting for entities reliant on state expenditure.

Originally published at https://legalacademy.co.za/news/read/mini-budget-tabling-processing-timeline-clarified

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