Finance Minister presents 2022 Budget to Parliament

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Ghana Parliament
Ghana Parliament

Government, in the 2022 Budget Statement, on Wednesday, announced the scrapping of road tolls across the country.

Finance Minister Ken Ofori Atta, presenting the Budget Statement to Parliament, in Accra said despite its contribution to expanding the road infrastructure, the tolling points, the tolls over the years, “have become unhealthy market centres”, in an apparent reference to exploitation by some collectors at certain booths.

The Minister said the collection of the tolls had also led to heavy traffic and increased travel time from one place to another and impacted negatively on productivity.

However, the Minister announced the introduction of Electronic Transaction Levy, pegged at a 1.75 per cent charge on all electronic transactions.

According to the Minister, the proposed Electronic Levy, would enhance financial inclusion and protect the vulnerable.

He explained that transactions covering mobile money payments, bank transfers, merchant payments and inward remittances will have the levy imposed on them and will be borne by the sender.

However, the levy will be waived for transactions that amount to GHS 100 or less in a day or approximately GHS 3,000 per month.

The Minister said portions of revenue collected from the levy will be used to support entrepreneurship, youth employment, cybersecurity, digital, and road infrastructure among others.

Finance Minister Ken Ofori-Atta said no public sector worker was laid off due to the impact of the Covid-19 pandemic on the nation’s finances.

‘Government managed to pay them monthly and we are grateful to the Unions for their cooperation in this regard.”

Under the Coronavirus Alleviation Programme Business Support Scheme (CAPBuSS), the Minister said Ghana Enterprises Agency provided 302,001 successful applicants across various sectors and regions with loans amounting to GHȼ523.11 million.

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