John Jinapor, the Yapei-Kusawgu Member of Parliament, claims that Ken Ofori-Atta, the Finance Minister, plans to generate an extra GH₵11 billion in the 2024 Budget by imposing new taxes.
“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 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.”
On Wednesday, November 15, 2023, the government’s 2024 Annual Budget Statement and Economic Policy are expected to be presented to Parliament by Finance Minister Ken Ofori-Atta.
There have been demands for the government to drastically cut back on spending before the presentation in order to save the failing economy.
Kenneth Thompson, the CEO of Dalex Finance and Leasing Company Limited, warned this week that if the government keeps up its current trend of massive and ever-increasing spending, there would be an impending economic crisis in 2024.
In the meantime, the government may consider renaming or eliminating the COVID-19 levy, according to Member of Parliament for Daffeama Bussie Issa Albert Sandaare, while Member of Parliament for Dormaa East Paul Twum Barimah has alluded to the possibility of an emission tax being introduced by the government to address the effects of climate change.