Minority Leader Dr. Cassiel Ato Forson has strongly criticized the 2024 mid-year budget review, describing it as uninspiring and hopeless. The budget, presented by Finance Minister Mohammed Amin Adam to Parliament on Tuesday, has sparked significant debate and concern among opposition leaders.
Government’s Commitment to Fiscal Discipline
During his address, Finance Minister Amin Adam emphasized the government’s commitment to fiscal discipline. He assured Parliament that the government would adhere to budgetary allocations and manage expenditures carefully to avoid overspending.
“We are dedicated to maintaining fiscal discipline and ensuring that our expenditures align with our budgetary allocations,” he stated, highlighting efforts to stabilize the economy and manage the national debt.
Ato Forson’s Critique
Despite these assurances, Dr. Ato Forson expressed deep concerns, urging Ghanaians to brace for more hardship. Speaking to the media, the Ajumako-Enyan-Essiam Member of Parliament argued that the government missed a critical opportunity to provide relief by abolishing certain taxes, which could have eased the burden on both citizens and businesses.
“This mid-year review leaves many people disappointed and uninspired. It gives no hope to the ordinary Ghanaian that anything will be done to change the unbearable hardships that confront the people of Ghana,” Dr. Forson remarked.
He further criticized the government’s high tax regime, citing taxes such as the E-levy, COVID levy, and an effective VAT rate of 22%, which he claims have severely burdened Ghanaian businesses and individuals over the past eight years.
Opposition Demands
Dr. Forson and the minority caucus are calling for significant policy changes to address the economic challenges facing Ghanaians. They argue that the current tax structure stifles economic growth and places undue pressure on ordinary citizens.
“We need a budget that provides real solutions and hope for Ghanaians, not one that continues to impose harsh economic conditions,” Dr. Forson asserted.
As the mid-year budget review continues to generate discussion, the government faces mounting pressure to address the economic concerns raised by opposition leaders and the general public. The coming weeks will be crucial as policymakers and stakeholders deliberate on potential adjustments to the fiscal plan in order to better support the nation’s economic recovery and growth.
