2024 Budget: Govt to raise GH₵11bn in new taxes – Jinapor

The Member of Parliament for Yapei-Kusawgu, John Jinapor, says the Finance Minister, Ken Ofori-Atta, intends to raise an additional GH₵11 billion through the imposition of new taxes in the 2024 Budget.

“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.”

The Finance Minister, Ken Ofori-Atta, is scheduled to present the government’s 2024 Annual Budget Statement and Economic Policy to Parliament on Wednesday, November 15, 2023.

Ahead of the presentation, there have been calls for the government to significantly reduce its expenditure to rescue the ailing economy.

The Chief Executive Officer (CEO) of Dalex Finance and Leasing Company Limited, Kenneth Thompson, issued a warning last week of a looming economic downturn in 2024 if the government continues its current pattern of ever-increasing and large expenditures.

Meanwhile, the Member of Parliament for Dormaa East, Paul Twum Barimah, has hinted at the introduction of an emission tax by the government to deal with the impact of climate change, while the Member of Parliament for Daffeama Bussie Issa, Albert Sandaare, believes that the government must consider scrapping the COVID-19 levy or renaming it.