National Assembly Cape Town: 12 September 2007  

Madame Speaker, 

The IFP supports the special adjustments provided for in the bill, noting that it is only the second time in this Parliament that it has been necessary. We feel that in some instances, the normal adjustments appropriation in October could have been used, but the funding was deemed urgent. Nevertheless, we are still not convinced that all the departments needed funds allocated via a special appropriation at this time.  

The IFP is pleased that the building programme for 2010 stadiums is ahead of schedule which has necessitated funding to be advanced to Sport and Recreation for onward transmission to the host cities. With almost R10 billion being spent on the construction phase we certainly hope that the relevant portfolio committees of Parliament will closely interrogate the host cities' business plans to ensure the economic viability of the stadiums post 2010. We certainly do not need any white elephants! 

IS THE MINISTER SATISFIED THAT THE HOST CITIES APPLIED THEIR MINDS CORRECTLY IN DECIDING TO BUILD NEW STADIUMS INSTEAD OF REFURBISHING EXISTING ONES AT MUCH LOWER COST? 

The Land Bank receives an additional appropriation of R700 million which bank officials have assured the portfolio committee will be ring-fenced for developing farmer support. However, the bill lists the bank's liquidity and capital adequacy ratio as the main motivating factors for the emergency funding. There seems to be a discrepancy in this regard. 

WHAT IS THE MINISTER'S REACTION TO THE APPARENT DISCREPANCY BETWEEN WHAT LAND BANK OFFICIALS SAID THE SPECIAL FUNDING WOULD BE USED FOR, AND NATIONAL TREASURY'S VIEW? 

As for the allocation to the PBMR, we support the continuation of the research phase of this project, but we would want the assurance that foreign exchange rate fluctuations have been factored into long-term planning as much of the international supplies and services are denominated in foreign currencies.  

As stated earlier, the IFP supports this bill with certain reservations. We trust that the relevant portfolio committees of Parliament will ensure that the involved public entities and departments make appropriate use of this special funding.

Thank you