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2022 Budget: Ken Ofori-Atta Hints On heavy Job Creation And Entrepreneurship

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2022 Budget: Ken Ofori-Atta Hints On heavy Job Creation And Entrepreneurship

Finance Minister, Ken Ofori-Atta has indicated that the 2022 budget will be heavy on job creation and entrepreneurship.

According to him, government is committed to putting in place those measures that will help deal with the unemployment situation in the country as well as recent challenges with the employment of fresh graduates for the public sector.

The minister added that “I don’t think we can wait any longer, because the time is now on how to create an entrepreneurial state and deal with this issue once and all.”

“Certainly the issues of youth and jobs will be the center of this budget presentation,” the Minister added.Mr. Ken Ofori-Atta noted that creating an entrepreneurial state has been a challenge for government, and he hoping to use the 2022 budget to deal with this problem.

Asked whether he will remove taxes on petroleum products as expected, the Minister was tight-lipped about that question, only to highlight the current challenges facing government and the need to do everything to improve the revenue situation.

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The 2022 Budget and other issues

Based on the 2022 -2025 Guild lines for presenting the budget, the Finance Ministry is projecting that, spend about ¢128 billion, when it comes to revenue, government to mobilized about ¢89 billion.

However, we are learning that these targets have been revised.

This is because some new developments have come up since it was put out in May this year.

JoyBusiness is learning that the 2022 Budget will focus heavily on fiscal consolidation, empowering the Private Sector to employ more and widening the tax net.

However, one is not sure for now whether this “widening of the tax net” may result in government increasing some tax rates or putting in place some measures that will improve efficiency when it comes to collections.

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Sources say the government may likely propose some review in the road tolls and also some taxes on prices of petroleum products.

This is because government wants to raise more revenue to finance or improve the bad road infrastructure and also look at raising more revenue when it comes to the petroleum taxes to finance the rising budget deficit.

The Minister is expected to announce some policy measures aimed at assisting businesses or let’s say the private sector to help deal with the unemployment situation in the country.

Introduction of new taxes?

We are learning that the finance minister could announce some new taxes in the budget.

He is also expected to reduce some taxes in some areas and even remove some as well.

 

 

 

 

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Source: GhArticles.com

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Ghana Politics

Mahama’s Promise To Cancel E-levy Is A Political Talk – NPP

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The ruling government New Patriotic Party (NPP) has said John Mahama's promise to Ghanaian to scrap the E-levy if NDC win power in 2024 is a just a political tlak.

The ruling government New Patriotic Party (NPP) has said John Mahama’s promise to Ghanaian to scrap the E-levy if NDC win power in 2024 is a just a political talk.

According to NPP, the e-levy which started on Sunday, May 1 cannot be abolished by the NDC party.

Just like the one-time premium and the repeal of talk tax that John Mahama and his NDC promised, but failed to implement when they were in power, this promise is just a political talk.”

“In any event, can John Mahama explain the difference between his 17.5% tax on financial transactions and his manifesto pledge to impose a uniform tax on all electronic transactions? Are these measures E-Levy in disguise and does he stand by them?” Communications Director of the NPP Yaw Buaben Asamoa wondered at a press conference in Accra Wednesday.

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He stressed: “If we reflect deeply, we will accept, as the records show, that significant change to our political institutions and conduct, economic structure and management and positive social impact, has mostly happened under the NPP’s watch.

“Many very significant national reverses occurred under the six years of John Mahama’s Presidency. He has since been rejected twice in elections. It’s possible his recent address is motivated by self-preservation towards his continued leadership of the NDC into 2024, given that both insiders and external observers are writing him off”.

He added: “Under John Mahamas’ leadership, Ghana will slip backwards into chaotic incompetence. Just like his autobiography tells all, he cannot take decisions. As he says in his book, he will ride this country like a bicycle, out of control and dangerously downhill, merely hopeful of survival.

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“The 2024 presidential election is expected to be about two choices: whether we choose to build on the significant gains so far made under President Akufo-Addo with a new presidential candidate from the NPP who comes with his or her own fresh ideas as well or to choose the candidate the NDC are threatening to bring back, John Dramani Mahama.”

 

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Ghana Politics

Supreme Court Dismisses Minority Injunction Application Against E-levy

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Supreme Court Dismisses Minority Injunction Application Against E-levy

The Supreme Court has thrown out the injunction application filed against the e-levy.

The apex court also directed the Ghana Revenue Authority (GRA) to keep all records of deductions following the implementation of the electronic transaction levy.

In a unanimous ruling, Presiding Judge Nene Amegatcher reading the judgment noted that the nature of the relief sought by the minority is null and void.

Three Members of Parliament; Minority Leader, Haruna Iddrisu; Mahama Ayariga(Bawku Central) and Samuel Okudzeto Ablakwa(North Tongu) are seeking the Supreme Court to restrain the Ghana Revenue Authority (GRA) from implementing the E-Levy until the final determination of an earlier substantive suit challenging the constitutionality of the bill by Parliament.

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Lead counsel for minority, Godwin Edudzi Tamaklo argued that greater parties will suffer, adding he 5u4 e-levy did not seek the interest of the public.

Attorney General and Minister for Justice, Godfred Yeboah Dame opposed the injunction by the three minority members.

 

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Ghana Politics

We’ll Account For E-levy – Akufo-Addo Pledges

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We’ll Account For E-levy – Akufo-Addo Pledges

President Akufo-Addo has reiterated the commitment of government to ensure transparency and judicious use of revenue mobilized through the implementation of the e-levy Act to engender confidence among tax payers.

According to the President “government agenda to introduce the electronic levy bill, is now electronic transfer levy Act 2022 “Act 1075″ is a strategic decision to boost our revenue mobilization drive in order to grow our economy by ourselves to improve social, economic and infrastructural development in the republic of Ghana. The controversies which emanated from the inception of the electronic levy bill was a healthy one for our democracy as a nation”.

President Akufo-Addo therefore assured that “the government is committed to ensure the Judicious administration and implementation and the same time reporting of all revenues collected under the newly introduced electronic levy Act to impose a confidence in the government”.

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This was contained in a speech read on behalf of the President by the Eastern Regional Minister Seth Kwame Acheampong during the 60th anniversary celebration of Rev. Friederich Monninger Memorial Presbyterian Church in Akosombo under the theme “Jesus Christ the light of the world” ,

He assured the congregants that, “government remains resolute and alive to to serve all well-meaning Ghanaians despite the global economic challenges. we are focused to sustain and grow the economy to make it an enviable one hence the need to continue to invest in the future the benefit for the generations unborn”

President Akufo-Addo said the Free Senior High , Vocational and Technical Education policy are the special purpose vehicles to churn out the needed human capital for accelerated development.

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“I am very optimistic the legacy to ensure every school going child of this country attains a minimum of secondary education has overly been achieved the data is available to show. The free senior high school and the free technical vocational and education training are the best vehicles we have devised to take us to the realization of our goal of an educated and skilled work force” he explained.

He added that “considering our current dispensation of technological advancement , every school going child will continue to be given the requisite education to be equip to run a modern and digitalize economy , and also the pursue to achieve Ghana beyond aid is very promising especially when government is poised to become self reliant to win itself from over reliance of foreign taste”.

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