2020 budget presentation rescheduled for next Wednesday – Parliament confirms

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There has been a change in the date set for the presentation of the 2020 budget and financial statement, with the Minister of Finance, Ken Ofori-Atta now scheduled to appear before Parliament on Wednesday, November 13, 2019, ABC News can report.

The reading of the budget was initially scheduled for Thursday, November 14 as announced at the beginning of the parliamentary meeting.

Meanwhile, the subsequent post-budget workshop for Parliament will for the first time in many years be held in Accra at the Parliament House rather than the Eastern Regional Capital Koforidua.

The workshop is expected to bring together technocrats from the Ministry of Finance and some experts in the financial sector to sensitise the Members of Parliament on government’s economic policies as captured in the budget to enable them to make cogent inputs.

Announcing the development on the Floor of the House Friday, the Majority Leader, Osei Kyei Mensah Bonsu entreated Members of Parliament to take cognizance of the changes and appear in the House on the said date.

“Mr. Speaker, the Honorable Minister of Finance is scheduled to appear in the House on Wednesday, the 13th of November 2019, to present the 2020 Budget and Financial Statement of the Republic of Ghana. Mr. Speaker, it is important to re-emphasize the fact that in accordance with Article 179, the budget will be presented on behalf of the President of Ghana on 13th November and not 14th November which is the date in circulation.”

Many are expectant of the government’s economic policies next year with the Trade Union Congress even cautioning against overspending in election year.

“As we enter another election year there is the temptation to spend on vote-winning projects that neither improves livelihoods of the people nor enhances the potential for future growth thereby totally destroying whatever gains we have made in previous years and set ourselves up for another painful and unnecessary International Monetary Fund (IMF) policies that destroy livelihoods and lower standards of living,” a statement released by the TUC said.

Meanwhile, the Finance Committee of Parliament has said that it does not expect the introduction of new taxes in the yet-to-be-read budget.

The Chairman of the Committee, Dr. Mark Assibey-Yeboah said the introduction of a new tax may burden the Ghanaian populace.

The New Juaben South MP, said, “I don’t think new taxes will be introduced. This is a listening government and I don’t think that any new taxes have been programmed in the budget.

The Minister of Finance, Ken Ofori-Atta has however hinted that the 2020 budget and economic policy of the government will focus on providing the liquidity to boost industrialisation in the country.

He explains that Ghana had gone through three years of macro-economic stability and it was now time to find interventions to boost industrialisation to sustain the transformation.

Source: ABCNewsgh.com

 

 

 

 

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