Change course or immerse the economy in greater challenges – Minority to Nana Addo

General News of Tuesday, July 30, 2019

Source: citinewsroom.com

2019-07-30

The minority party in Parliament has urged the government to change its way of operating the economy, which has seen an increase in key taxes such as taxes on the energy sector (HALS).

Comments follow the mid-year budget review, in which three HST taxes were increased in addition to the tax on communication services.

At a press conference by Cbadiel Ato Forson, a member of the finance committee, the minority warned that the country would be even harder if the government did not change its agenda.

"The mid-year budget presented by the Minister of Finance is dark and presage of very difficult times for all Ghanaians. The Akufo-Addo government must change course, otherwise it will plunge the economy into much bigger challenges, "he said.

The minority also warned that Ghana was facing another program from the International Monetary Fund due to the economic mismanagement perceived by the Akufo-Addo administration.

Mr Forson said that Ghana was not far from needing a bailout given the current state of play.

"Given the fiscal challenges facing the country and the high level of public debt, it would not be surprising that Ghana is asking for an IMF bailout less than two years after the end of a similar program that the government current proudly presented as an achievement. "

Mr Forson, also a member of Ajumako-Enyan-Essiam, said the government had ignored the council to resist the urge to impose new taxes.

"These appeals seem to have fallen into the ears of a deaf person … Under the HSTA markups, an average increase of 25% was imposed on the production support tax of $ 50,000. electricity and infrastructure, the Road Fund Tax and the Stabilization and Price Recovery Tax. "

"If these increases create frustration and Ghanaians want to be unloaded by phone calls or social media, the mid-year budget has made it so expensive following the imposition of an increase in 50% of the tax on communication services from 6% to 9%, said the MP.