2023 budget: There is nothing in it other than extreme hardship — Ato Forson

Minority spokesperson on Finance, Mr. Cassiel Ato Forson has expressed dissatisfaction with the 2023 budget read in Parliament by Minister of Finance, Mr. Ken Ofori-Atta.

He said there is nothing in the budget to save Ghanaians from the current economic crisis except to inflict more hardships.

Speaking at a press briefing in the Parliament House in Accra on Thursday, November 24, the Ajumako-Enyan-Esiam legislator lamented that the 2.5% increment in the Value-Added Tax will further worsen the hardship in the country.

“There is nothing in the budget other than extreme hardship on the people of Ghana. So let’s brace ourselves for more since there has been an increase in VAT,” he lamented.

He added, “Now the Minister is saying that if you want to send money to your relatives in the village, they will deduct 1% E-levy from it.”

Reading the 2023 budget statement and economic policy, dubbed the "Nkabom" (unity) budget, in Parliament on Thursday, November 24, Mr. Ken Ofori-Atta, the Finance Minister announced that there will be a 2.5 percent increment in the value-added tax (VAT) effective 2023.

According to the minister, the long-held public outcry about the reduction of the 1.5 percent E-levy to 1 percent has been answered.

“To aggressively mobilize domestic revenue, we will among others increase the VAT rate by 2.5 per cent to directly support our roads and digitalization agenda.

“...Review the E-Levy Act and more specifically, reduce the headline rate from 1.5% to one per cent (1%) of the transaction value as well as the removal of the daily threshold,” the Minister announced.