Deputy Minister of Finance Dr Stephen Amoah has responded to Minority Leader Dr. Cassiel Ato Forson, who claimed that the Ministry lacked new ideas and policies.
His response came after Dr. Ato Forson criticized the introduction of new taxes during the 2024 Mid-Year Budget Review, arguing that they had worsened the economic situation and deterred investors.
Dr. Amoah dismissed these claims as “intellectual dishonesty,” attributing them to political motivations rather than factual analysis.
Dr. Amoah argued that, tax policies are complex and are adjusted based on economic conditions.
“Taxes are a primary source of revenue for the government, and with only 2 million out of 34 million Ghanaians paying direct taxes, the tax base is insufficient to meet the country’s financial needs. This results in a deficit that the government must address,” he said.
Dr. Amoah emphasized that, the government has implemented measures to reverse negative economic trends and foster growth.
“We have put initiatives in place amounting to approximately 8.2 billion cedis to support the growth of SMEs and create sustainability in the job sector,” he stated.
The Deputy Minister further called for a focus on common national interests rather than politicizing economic issues.
“We need to define common interest and stop politicising everything” he added.
Listen to the Deputy Finance Minister below:
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