The Minister of Information, Kojo Oppong Nkrumah, has intimated that the 2022 budget to be presented by the Finance Minister, Ken Ofori-Atta, is expected to bring some relief for road vehicle users.
Commenting on the 2022 Budget ahead of the presentation today,;the Minister in a social media post on Wednesday November 17, 2021 said, “Today is expected to be a good day for young Ghanaians looking for support to fuel their business ideas”.
“We look forward to some relief for road vehicle users,;while at the same time equitably raising revenues to speed up the fixing of our roads.”
Kojo Oppong Nkrumah
He added that the local industry can expect measures that will make their products more competitive while dealers benefit from same measures to source the same products locally.
Mr. Oppong Nkrumah noted that the Vice President, Dr. Mahamudu Bawumia is acting as President in the absence of President, Nana Addo Dankwa Akufo-Addo and as such cannot join the finance minister in the chamber today. He explained that it will be out of place for the Vice President to do so.
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This revelation by the Information Minister has come at a time where the Ghana Private Road Transport Union (GPRTU) has called on the government to review the payment of road tolls in the country.
Godfred Abulbire Adogma,;the GPRTU General Secretary,;noted that Ghana should substitute paying of road tolls with a one-pesewa increment on the Energy Levy. This, he said,; will provide more than enough to cover any losses from monies collected at various toll booths across the country.
He averred that when it comes to the issue of road tolls,;even if the government decides to raise the current amount from GHC1 to GHC2, that wouldn’t be enough. He added that the Union has itemized;all the reasons and the government could scrap all the toll booths and rather charge an amount per litre of fuel. That can be another measure to prevent revenue leakages.
2022 Budget Presentation
Finance Minister, Ken Ofori-Atta is expected to present the 2022 Budget Statement to Parliament, today Wednesday November 17, 2021. The budget, according to the Ministry, will focus on expanding the economy’s recovery from the COVID-19 pandemic.
According to the Finance Ministry, the budget would dwell on creating a climate-friendly entrepreneurial state to address unemployment and import substitution. The Ministry mentioned the digitalization of the economy, skills development and entrepreneurship as part of the key issues in the presentation.
Ahead of the presentation, some financial and economic analysts as well as professional and trade organizations have expressed varied expectations on the Budget. Members of the public have also expressed their concerns and interests, especially on tax cuts and job creation interventions.
Whereas some analysts have urged the Government not to introduce new taxes, others have also called for the widening of the tax net to enable the government to meet its revenue targets.
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