Parliament has approved the GHC6.3 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 GHC78,771,833,602.12 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 GHC85,142,189,527.94,” he said.
Mr Ofori-Atta said government is, therefore, requesting Honourable Members to consider and approve an amount of GHC6,370,355,925.82 as supplementary estimates to the original Appropriation of GHC78,771,833,602.12 to bring the revised total Appropriation for the 2019 Fiscal Year to GHC85,142,189,527.94.
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.”
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