Member of Parliament for Yapei-Kusawgu, John Jinapor, claims the Finance Minister, Ken Ofori-Atta, will impose a new tax in the 2024 Budget to raise an additional GH 11 billion.
“We just met the Minister of Finance at the Finance Committee and the minister indicated that he intends to raise an additional GH₵11 billion, which is about 1 percent of GDP but we have told him that we think that the people have been taxed so much that it will be inappropriate to come with new taxes; rather, the minister should look at cost cutting,” Jinapor said.
He added, “I think that it is improper and unacceptable to further come out with new taxes and increase the tax burden on Ghanaians.” The Finance Minister, Ken Ofori-Atta, is set to present the government’s 2024 Annual Budget Statement and Economic Policy to Parliament on Wednesday, November 15, 2023.
Leading up to the presentation, there are widespread calls for the government to significantly curtail its expenditures to alleviate the struggling economy.
Last week, the Chief Executive Officer (CEO) of Dalex Finance and Leasing Company Limited, Kenneth Thompson, issued a warning about a potential economic downturn in 2024 if the government persists in its current trend of escalating and substantial expenditures.
In related discussions, Member of Parliament for Dormaa East, Paul Twum Barimah, hinted at the government’s potential introduction of an emission tax to address the impacts of climate change.
Also, Albert Sandaare, the Member of Parliament for Daffeama Bussie Issa, suggested that the government should consider either eliminating the COVID-19 levy or renaming it.