The Member of Parliament for the Yapei-Kusawgu constituency John Abdulai Jinapor has condemned the government’s decision to introduce new taxes in the 2024 budget.
The ranking member of the Mines and Energy Committee of Parliament clarified that most businesses are collapsing due to the introduction of inappropriate taxes in the country.
He also called on the government to find ways of cutting down expenditures rather than pushing all the economic burdens on the ordinary citizens who struggle to survive.
“We 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 so 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 expected to present the government’s 2024 Annual Budget Statement and Economic Policy to Parliament today Wednesday, November 15, 2023.
The Finance Ministry in an earlier statement noted that “the budget is crucial because it is developed to support the implementation of the IMF-backed Post-Covid-19 Programme of Economic Growth(PC-PEG). It comes just after the successful First Review of the 3-year US$3 billion IMF-ECF Programme”.
The budget is also expected to highlight the performance of the economy, efforts to boost the productive capacity of the economy through the new growth strategy, fiscal measures, and debt management strategies to deepen stability and promote growth”.