The Member of Parliament for Yapei-Kusawgu, John Jinapor, has revealed that the Finance Minister, Ken Ofori-Atta, intends to impose new taxes in the 2024 Budget to raise an additional GH₵11 billion, which is about 1% of GDP.
However, Jinapor has expressed concerns that the people have been taxed heavily, and it would be inappropriate to impose new taxes. Instead, he has suggested that the minister should consider cost-cutting.
Jinapor further stressed that the imposition of new taxes would be improper and unacceptable, as it would further increase the tax burden on Ghanaians.
The government is scheduled to present its 2024 Annual Budget Statement and Economic Policy to Parliament on November 15, 2023.
Ahead of the presentation, there have been calls for the government to reduce its expenditure significantly to rescue the economy.
The CEO of Dalex Finance and Leasing Company Limited, Kenneth Thompson, has warned of a looming economic downturn in 2024 if the government continues its current pattern of ever-increasing and large expenditures.
In addition, the Member of Parliament for Dormaa East, Paul Twum Barimah, has hinted at the possible introduction of an emission tax by the government to deal with the impact of climate change.
Meanwhile, the Member of Parliament for Daffeama Bussie Issa, Albert Sandaare, believes that the government must consider either scrapping the COVID-19 levy or renaming it.
