The Minority in Parliament has described the 2024 mid-year budget presented by the Ministry of Finance, Dr. Mohammed Amin Adam as uninspiring.
The Minister presented the 2024 mid-year budget review to Parliament and indicated the government’s outlining several measures and it commitment to fiscal discipline.
He also indicated that the government does not intend to request any additional money in the mid-year budget.
“There have been changes in amortization, interest cost due to the external debt operations and disbursement forecast for externally funded projects. In this regard, we will remain within the appropriation for 2024.
“Accordingly, we are not seeking supplementary funds in this Mid-Year Review. We are determined to be more efficient, strategic and intentional to entrench fiscal consolidation and strongly promote growth”, he added.
Addressing the media after the mid-year budget presentation the Minority explained the government could have cancel some taxes in order to boost business confidence but failed.
The Ajumako-Enyan-Essiam Member of Parliament argued that the government missed an opportunity to provide relief by abolishing certain taxes, which could have cushioned Ghanaians and businesses alike.
“This mid-year review leaves many people disappointed and uninspired. It gives no hope to the ordinary Ghanaian that anything will be done to change the unbearable hardships that confront the people of Ghana.”
“In the last eight (8) years, Akufo-Addo and Bawumia have burdened Ghanaian businesses and individuals with high tax regime such as E-levy, COVID levy, an effective VAT rate of 22%”, the Minority leader, Dr. Cassiel Ato Forson disclosed.
Others are “a betting tax A borla tax (Sanitation Levy) High taxes on petroleum products, An emission Levy, High import ductus Burdensome fees and charges across all sectors, and Over 40 new taxes”
He further stated that “These Burdensome taxes have made Ghana unattractive for investment. As a result, many businesses are relocating from Ghana to Togo and Ivory Coast among others. Ghana has lost so many job opportunities as a result of the relocation of businesses.”
Source: Ghana/Starrfm.com.gh
