2022 budget reading is today

The 2022 Budget Statement and Economic Policy of the government is expected to be presented by the Finance Minister, Ken Ofori-Atta before Parliament today, November 17, 2021.

It had previously been scheduled for November 15, 2021, however the Second Deputy Speaker, Mr. Andrew Asiamah Amoako, (Ind., Fomena) announced the date reversal and said the House will have other important events to attend to on November 15.

“Parliament is engaged in another equally important assignment on 15th of November and therefore, the budget will be read here on 17th of December 2021,” he said.

The Deputy Majority Leader, Alex Afenyo-Markin, earlier indicated that the House would start the debate on the budget from Monday, November 22, and conclude on Friday, November 26, 2021.

Massive Boost

The Minister of Information, Mr Kojo Oppong Nkrumah, had earlier indicated the 2022 budget statement will focus on creating an enabling environment for young entrepreneurs in the country to develop and grow their businesses.

The Ofoase-Ayirebi lawmaker said the government had taken note of the concerns of young entrepreneurs in the country and would, through the 2022 budget, provide opportunities that would address these concerns.

“Through several youth engagement platforms young people have given government feedback on the status of the entrepreneurial ecosystem and what they will like government to do for them to make it easier for them to do business. Government will respond positively with interventions that will deepen and broaden the already existent opportunities,” he said.

Concerns

The Ghana Union of Traders Association (GUTA) in their concern also appealed to government to use the budget statement to reduce the cost of doing business and strengthen companies to spur economic recovery.

The business advocacy group also urged the government to resist the temptation to introduce new taxes in the budget, given the hardship businesses are facing at the moment.

The President of GUTA, Dr Joseph Obeng, said that although the private sector was doing its best in the build-back agenda, it had been dampened by the effects of the COVID-19 pandemic and the rising cost of transaction.

Consequently, Dr Obeng said the budget, must introduce policies to ease the burden on businesses and fast track the recovery.

Dr Obeng said the effects of the COVID-19 pandemic had affected businesses so much such that any introduction of taxes in the 2022 budget would lead to the collapse of businesses.

“This year saw the introduction of new taxes and so we are not expecting another layer of cost in doing business to be added. Businesses have started showing signs of fatigue in terms of tax payment so the introduction of new taxes will make businesses collapse,” he stated.