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Business News Fri, 19 Nov 2021

BizTech: Highlights of 2022 budget presentation by Finance Minister

Minister for Finance and Economic Planning, Ken Ofori-Atta, on November 17, 2021 delivered the 2022 Budget and Economy Policy statement before Parliament.

The presentation of the budget was in accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921).

Delivering the statement before lawmakers, Ken Ofori-Atta announced a number of tax and fiscal policy measures.

He also outdoored government initiatives to create one million jobs, among others.

Ken Ofori-Atta further announced the abolishing of road and bridge tolls, explaining that government views it as nuisance taxes.

Following the budget presentation, there have been some fallout particularly with the introduction of the e-levy.

1.75 percent levy has been slapped on all electronic transactions covering Mobile money, bank transfers, remittance and others. But the announcement has however been met with some discontent from a section of the Ghanaian public.

The Minority in Parliament on their part have labeled the tax policy as draconian, insensitive, and one that will erode gains made towards a cashless economy.

We also bring some reactions from Members of Parliament following the Finance Minister’s presentation.

Watch the full video below:

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