A budget is a plan which is quantified in monetary terms, prepared to show the income to be generated and expenses to be incurred in a particular period of time. After the preparation of the budget, it must be approved by parliament.
The 2022 budget has been rejected by Parliament. The majority side in Parliament left the premises of Parliament after a misunderstanding between the two sides and with the decision of the speaker of Parliament.
The 2022 budget upon approval would have brought about a 1.75% tax on all electronic transactions. Also all road tolls will be abolished. The government also expected more than 100 billion dollars in 2022 if the budget had been approved. The government will now have to bring out a new budget to Parliament. According to the majority side in Parliament, the speaker of Parliament has unconstitutional rejected the Parliament. According to them, there should be more than half of Parliamentarians in Parliament but the total of Parliamentarians in Parliament at the decision was made was less than half. This makes it unconstitutional.
This is however not the first budget to be rejected. The first was in 1979 when the country’s 3rd Republican Parliament rejected the statement presented by the then Dr Hila Limann’s People’s National Party (PNP) led administration.
The statement was presented by the Finance Minister at the time, Dr. Amon Nikoi. It was rejected by the house despite the PNP’s majority numbers in the house.
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