The Political Affairs Chairman of the Convention People’s Party (CPP), Kwame Jantuah has questioned the government’s commitment to reducing spending.
Speaking on Weekly Review on Starrfm with Francis Abban, Mr. Jantuah expressed worry over the government’s lack of commitment to fiscal stability.
According to him, if the government should show some level of commitment to reducing spending there will not be the need to tax the Ghanaians people.
“So far as I know there were two elements that were brought up by the IMF, Domestic Debt Restructuring and Fiscal stability. Show us how you are going to stabilize your fiscals. We have been able to do domestic restructuring and even that has been very messy but we have been able to do it.
“I hear those bondholders who didn’t sign on are going to start picketing again because they haven’t been paid. The fiscal stability side, what is happening? What have they (the government) sacrificed in terms of cutting down their expenditure?” Mr. Jantuah asked.
He continued: “That is the first point of call and before you bring those taxes in, if you show us what you are sacrificing there will be a gap then you fill that gap. So if you fill that gap you might not need that four billion you are talking about. Because you have been able to cut down to a certain degree and reduce spending.”
Meanwhile, Parliament March 31, 2023 through a Majority decision has passed three new taxes.
These are Income Tax Amendment Bill, Excise Duty Amendment Bill, and Growth and Sustainability Amendment Bill.
These taxes are expected to generate approximately GH¢4 billion per year to supplement domestic revenue.
Source: Ghana/Starrfm.com.gh/103.5FM
