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.
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“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.
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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.
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Leading up to the presentation, there are widespread calls for the government to significantly curtail its expenditures to alleviate the struggling economy.
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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.
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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.
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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.
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