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in General News

Information Minister pleads for consensus on proposed taxes

Maynard Championby Maynard Champion
March 17, 2021
Reading Time: 3 mins read
Information Minister, Kojo Oppong Nkrumah, has announced that the Governor of the Bank of Ghana (BoG), Dr Ernest Addison, will be meeting Managing Directors of Banks and some forex bureaux as part of government’s efforts to stabilize the forex market.

Information Minister, Kojo Oppong Nkrumah, has urged Member of Parliament and Ghanaians to to accept the proposed taxes in the 2021 budget by Government.

He explained that the resources will help grow back the economy after the impact of the pandemic.

“Mr Speaker, we are at that point where every Ghanaian has to chip in a little so that we are able to recover. We cannot, as a country, allow the temporary challenges that we face today to hold us back.

“We need to bite the bullet. Raise some more resources and invest the same in the things that we all aspire to achieve in this country.”

The Ofoase Ayirebi legislator further noted that government needs the resources to fund roads, sanitation projects and many policies.  He also explained that the success of the policies will ensure the growth of the economy.

 “Mr Speaker for all of us members of parliament who demand road projects in our constituencies, government desires to increase the road tolls marginally. [This is to] raise more resources to ensure our contractors are paid on time, so that our roads are done. It is something that will benefit our constituents and us as well.

“For all of us who complained that the President promised Accra should become the cleanest city in Africa within a period of time, that promise has not been materialised.

“I am sure that if we pay a little extra and those funds are put to the proper use, we’ll able to make not just Accra but Kumasi, Takoradi, Tamale and other cities the cleanest in West Africa. It will serve our constituents well and serve us well”.

Government proposed taxes

Government through the 2021 budget statement and economic policy proposed new taxes on petroleum products. 1% for Covid-19 Health Levy on VAT Flat Rate Scheme and 1% on the National Health Insurance Levy (NHIL).

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This budget has since faced criticisms due to the proposed taxes. That notwithstanding, it highlighted that the new taxes will help the economy recover from the effects of the global pandemic.

Dr Clement Apaak, however, discredited the introduction of new taxes by the government in the 2021 Budget Statement.

He urged all and sundry, particularly Members of Parliament to support government by approving the budget.

“I want to call all members of this house that as the government program has been put before us, we all rally behind government pass these revenue measures and approve this budget, raise the resources required and most importantly, ensure that resources are put to the uses for which they have been advertised”.

Speaker of Parliament threaten to delay budgetary allocation

Meanwhile, the Speaker of Parliament, Alban Bagbin has threatened to delay processes towards the approval of the 2021 budget. He explains that this will happen if the Executive implements its plans to cap budgetary allocation to the legislature.

The Speaker insists that it is legally wrong and poses to weaken the oversight duties of Parliament.

“The budget is not for the Executive. We have the final power to approve or disapprove. And so, what the Constitution has done is for them to make recommendations. [Also,] to negotiate during the deliberations of the budget before the House”.

READ ALSO: Taxes imposition will hit the poor harder- Joe Jackson

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Tags: Budget 2021Finance MinistryKojo Oppong Nkrumahleviesproposed taxes
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