Travelex chief executive Lloyd Dorfman said, ``Not only is MTFS
a well run, profitable operation, but under the terms of the transaction Travelex will be able to meet the foreign exchange needs of millions of new customers through 700 travel agencies around the UK.
Maintaining sterling's position within its ERM band will provide a more effective nominal anchor for the MTFS than existed during the 1980s.
As regards medium-term fiscal objectives, the official PSBR projections for FY 1992/93 and subsequent years in the 1991 MTFS are consistent with budget balance on average over the cycle.
The MTFS has always begun with a commitment to reduce inflation.
The MTFS has never so far included a labour market projection, but there is no reason why the presentation of the strategy should not be frank about all its likely consequences.
We would like to see a reduction in the level of interest rates reinstated as an objective of policy in the MTFS.
The MTFS has always included a statement of this kind, but latterly these have been masterpieces of ambiguous drafting.
The existing framework of the MTFS lends itself well to the discussion of fiscal policy.
While outcome two (a long and healthy life for all South Africans) has 77 MTSF performance indicators, only 36 are reflected in departmental APPs; and while outcome three (all people in South Africa are and feel safe) has 93 MTFS performance indicators, only 58 of these are reflected in departmental APPs.
Officials from the Department of Monitoring and Evaluations (DPME) indicated that MTFS indicators have a hierarchy, and that a number of national departments have indicated that some of the indicators assigned would be better suited at provincial departments.
The Committee further encouraged the DPME to be part of its quarterly engagements with National Treasury to ensure that MTFS targets are attained.