Parliament has approved the GH₵ 6.3 billion requested by the Finance Minister, Ken Ofori-Atta, for extra expenditure for the 2019 financial year.
This was in spite of opposition from the Minority.
Joy News’ Kwesi Parker-Wilson reports from Parliament, this was done through a Majority voice vote.
Meanwhile, the Parliament’s Finance Committee has been tasked to deliberate on proposed tax increases which accompanied the supplementary estimates and present a report for the House’s consideration.
The House which currently is on an hour’s break, will return to consider the proposed tax increment.
Mr. Ofori-Atta told the Legislature on Monday, these are part of measures to help improve governments revenue for development and help improve the livelihood of Ghanaians.
He said as a result of revisions to the 2019 fiscal framework, “the 2019 Appropriation of ¢78,771,833,602.12 that was approved by this august House in November 2018 will not be adequate to cater for the additional programmed needs which will increase the total Appropriation to ¢85,142,189,527.94,” he said.
Mr Ofori-Atta said government is, therefore, requesting Honourable Members to consider and approve an amount of ¢6,370,355,925.82 as supplementary estimates to the original Appropriation of ¢78,771,833,602.12 to bring the revised total Appropriation for the 2019 Fiscal Year to ¢85,142,189,527.94.
He added, “Consistent with Article 179 (8) of the Constitution, the request for a supplementary estimate is necessitated by additional precautionary expenditures in response to regional security developments and the amortisation of contingent liabilities associated with take-or-pay contracts which have crystallised.”