The bill provides for the equitable division of revenue to national, provincial and local government.
The total budgeted spending for 2003/04 amounts to R334-billion, with the provincial share (including conditional and other grants) totalling R159-billion and local government R12-billion.
The national share, after debt costs and contingencies, amounts to R108,9-billion.
The draft legislation will now be referred to the National Council of Provinces' select committee on finance for more in-depth analysis - Sapa
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