The 2022 Budget and Economic Policy statement, dubbed the ‘Agyenkwa’ budget that was presented by the Minister of Finance, Ken Ofori-Atta, on behalf of the President Nana Addo Dankwa Akufo-Addo, on Wednesday, November 17, 2021 has been shot down by parliament.
The final day of debating and approving of the budget which is today, was met with the late arrival of the majority in Parliament. A sitting that was supposed to have began at 10:00am ended up commencing after 12:00pm. The shenanigans of the majority did not end there as they staged a walkout during proceedings on Friday, November 20 but that did not prevent the speaker of parliament, Alban Bagbin from ruling on the motion.
The budget has been met with stiff objection from a majority of Ghanaians since it was proposed by the finance minister, Ken Ofori-Atta on Wednesday, November 17. Key point in the Agyenkwa budget that received the greatest objection was the introduction of a 1.75% e-levy.
The aim of this e-levy according to the minister of finance, is to broaden the tax net but many argued that it was the same people who are paying tax on income and major contributors of tax that will be taxed using the e-levy, with some suggesting that the percentage slapped on the e-levy be reduced.
As it appears, Government will have to go back to the drawing board and revise the budget probably, that will have the support of the people and the support of the whole house in parliament.