Debate on 2023 budget begins today

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Debate on the 2023 budget will begin today, Tuesday, November 29.

The Members of Parliament (MPs) are expected to express their views and suggestions on the policies announced in the budget.

This is after a two-day post budget workshop organised in Ho for the MPs.

The Finance Minister, Mr Ken Ofori-Atta on Thursday, November 24, presented the 2023 budget statement.

Notable amongst the policies are the Electronic Transfer Levy rate which is to be reduced to 1 percent, and the Value Added Tax rate to be increased from 12.5 percent to 15 percent.

Also included is the benchmark discount policy which is to be fully phased out in 2023 and an additional income tax bracket of 35 percent to be introduced.

These have been met with opposition as industry players lament the impact it will have on their businesses and livelihoods.

However, the government has said it intends to use the 2023 budget to focus on strategies to restore and stabilise the macroeconomy, build resilience, and promote inclusive growth and value creation.

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