LOCK-UP SESSION ON THE MEDIUM TERM BUDGET POLICY STATEMENT 1999

Issued by: Department of Finance

27 October

You are invited to lock-up session on Friday, 29 October 1999, hosted by the Department of Finance, prior to the release of the Medium Term Budget Policy Statement 1999.

The Medium Term Budget Policy Statement 1999 (MTBPS) is one of the most important policy instruments of Government. It outlines the Governments policy framework within a three-year budget cycle. It is hoped that the MTBPS will encourage public discussion on Government spending proposals in advance of the 2000 - 2001 Budget to be tabled on 23 February 2000.

The MTBPS is designed to provide a policy base from which we can prepare government spending plans over the next three years. The MTBPS gives us:

• A summary of the macro economy. It highlights our macroeconomics recovery and improving growth prospects.
  
• Identifies resources available to meet key policy commitments
  
• It includes the proposed division of revenue between national, provincial and local spheres of government.
  
• It includes the proposed division of revenue between national, provincial and local spheres of government.

The MTBPS 1999 will be of interest to all those working in the areas of macroeconomics policy, finance, provincial and local government affairs, the integrated justice sector and the health, education and welfare sectors.

The Minister of Finance will table the Medium Term Budget Policy Statement 1999 in the National Assembly at 10am on Friday, 29 October 1999. This will be preceded by a three-hour lock-up session starting at 7:00am. The document is under a strict embargo until 10am. Senior officials of the Department of Finance will be on hand to respond to queries and to clarify technical issues.

Please note the rules of the lock-up:

• Nobody will be allowed to leave the lock-up until 10am
  
• All cell-phones should be unplugged to prevent incoming or outgoing calls
  
• No electronic transmission of data during the lock-up

The sequence of events on Friday is as follows:

Date: Friday, 29 October 1999
Event: Lock-up Session
Venue: Rain Forest Room, 120 Plein Street
Time: 7am - 10am

Date: Friday, 29 October 1999
Event: Tabling of document in the National Assembly.
Venue: National Assembly
Time: 10am - 11.30am

Enquiries: Department of Finance(021) 464 6100

Shahid Khan: (021) 464 6123
Sonya Hendricks: (021) 464 6122