There is a need to understand the importance of gender equality and economic growth – Majority Leader to MPs
Osei Kyei-Mensah-Bonsu, the minister of parliamentary affairs, has stated that in order for legislators to revitalize the economy, they must recognize the significance of both economic growth and gender equality.
Mr. Mensah Bonsu stressed in his introductory remarks at the post-budget workshop hosted in parliament that understanding the budget’s impact and prioritizing measures that advance gender equality are made easier by using a gender lens in the budgetary process.
He said that by not implementing gender-responsive policies, macroeconomic stability may be negatively impacted in the long run, further entrenching women’s disadvantage and impeding their chances of recovery.
He gave an example when he said that having access to a gender impact assessment as lawmakers would be extremely fascinating in determining how new tax or spending measures in the budget affect gender equality.
“I would like to entreat us all to scrutinise the budget with a gender lens to ensure gender equality.”
The Member of Parliament for Suame clarified that the Tax Exemption Bill, which was put into law by Parliament last year, establishes precise qualifying requirements for tax exemptions and calls for their monitoring, assessment, and enforcement to guarantee that they are used appropriately.
He stated that more investigation is necessary to find weaknesses in the regime and fix them, and the administration is prepared to consult with interested parties on the matter.
He disclosed that total capital formation—also known as gross domestic investment by the government and private sector—recorded negative growth rates of 7.3% and 10.2% in the first and second quarters of 2023, respectively, according to the Ghana Statistical Service.
When new policies and initiatives are suggested, he advised Parliament to obtain an ex ante effect assessment study.
He cited the introduction of a 20% import tax and a 15% value-added tax (VAT) on sanitary pads by the government as an example, which sparked intense public discussion. He questioned the policy’s short-, medium-, and long-term effects.
He enquired as to whether it would enable regional producers to increase their output or what type of assistance they would need to satisfy regional demand. What impact would the policy have on the education of girls?
He said that in order for Parliament to examine budgets and other policy papers, it would be necessary going forward to require impact assessment studies.