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2023 budget approved by Parliament

The Minority caucus opposed the budget’s revenue mobilization provisions, but the House still approved it on Tuesday, December 6.

The National Democratic Congress (NDC) minority faction in Parliament opposed measures like raising the VAT by 2.5% and eliminating the electronic transaction levy’s threshold.

Without saying anything more, Mr. Haruna Iddrisu, the minority leader of the NDC, said, “Mr. Speaker, we in the NDC minority group will fiercely resist and fight the imposition of this additional tax on Ghanaians and Ghanaian businesses because Mr. Speaker it will only exacerbate and increase the hardship they’re already going through, will increase the cost of doing business for many Ghanaians, and it will make it difficult for ordinary Ghanaians to cope.”

But in a swift rebuttal, the majority leader Osei Kyei-Mensah-Bonsu said the 2.5% increase in VAT will go into the construction of roads.

“Roads are mentioned in about 25% of the queries posed in this chamber. Since certain roads have already been started, it is important to prevent their deterioration and neglect. According to what we have been told, the 2.5% increase in VAT would be used mostly for road building. Tell us that you do not want to have your roads built if you do not want them built,” he said.

The statement was introduced by the Finance Minister on November 29 and has been up for discussion in the House ever since.

With the clearance, the estimates for ministries, departments, and agencies (MDAs) can now be sent to the various committees for review.

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