• November 13, 2023

2024 Financial Budget is a Sham —MP

2024 Financial Budget is a Sham —MP
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By Alusine Fullah

The Parliament of Sierra Leone has on Thursday, 09/11/2023 debated and passed into law, with some amendments the Bill entitled: ‘The Finance Act 2024″, for the economic growth and development of Sierra Leone. The Bill seeks to provide for the imposition and alteration of taxes, to give effect to the financial proposals of the Government, and to provide for other related matters for the Financial Year 2024.

Presenting the Bill to Parliament, the Minister of Finance, Sheku Ahmed Fantamadi Bangura said the Bill is a measure drawn from the Finance Act intended to increase and improve revenue generation for the State. The Minister said the Finance Act aimed at generating and protecting local farmers and also providing incentives for the local markets.

During the presentation of this budget, several members of parliament holistically debunked it. For instance, the Deputy Opposition Leader decried the proposed increase in taxation on cement, rice, and iron rods and went and advised the government to look into the proposed and sober amendments. He also urged the Finance Ministry to protect the local industries, “If this Bill is passed as it is, it would cause suffering for the people of Sierra Leone”, he concluded.

The Finance Bill 2024 came as a destructive element to the life support and survival machine of the citizens. The act in itself is just another deadly poverty virus designed to burry an already dead economy.

Another popular MP who has decided to remain anonymous lamented: “How can a government be so heartless to introduce a tax increase on rice since the end of the civil war? It went further to exponentially increase taxes on petrol, cement, iron rods, and other goods, which will eventually have a negative and ripple effect on the lives of citizens. The finance act is not only a disaster to the existing untold hardship and poverty in the country, but it is also a deliberate action by the government to shift its burden on the ordinary citizens.

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