Member of Parliament for Yapei-Kusawgu, John Jinapor, has disclosed Finance Minister, Ken Ofori-Atta, plans to generate an additional GH₵11 billion through new taxes in the 2024 Budget.
Jinapor expressed his concerns about the impact of new taxes on the people and stated Ghanaians have been taxed too much already.
He suggested to the Minister to focus on cost-cutting measures instead of imposing more taxes.
“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 Annual Budget Statement and Economic Policy for 2024 to Parliament on Wednesday, November 15, 2023.
There have been numerous calls for the Government to drastically reduce its expenditure to revive the struggling economy.
Kenneth Thompson, the Chief Executive Officer (CEO) of Dalex Finance and Leasing Company Limited, issued a warning last week of an impending economic downturn in 2024 if the Government persists with its current trend of increasing and large expenses.
In a related development, the Member of Parliament for Dormaa East, Paul Twum Barimah hinted at the possibility of the Government introducing an emission tax to combat the effect of climate change.
Albert Sandaare, the Member of Parliament for Daffeama Bussie Issa, believes that the Government should consider either scrapping the COVID-19 levy or renaming it.