The Minority caucus in parliament has warned that it will strongly oppose any move by the government to introduce new taxes or increase existing ones, warning that such measures will burden Ghanaians further.
Addressing a press conference on Monday, March 3, former Minister for Finance, Dr Mohammed Amin Adam, criticised the government’s tax revenue target of GH¢200 billion for the year, arguing that it is unrealistic given the current state of the economy.
Dr Amin Adam accused the government of hypocrisy, recalling how it previously criticised the New Patriotic Party (NPP) administration for overtaxing Ghanaians.
“This is how they intend to tax Ghanaians to collect their target of GH¢200 billion in tax revenues this year. This government accused us of overtaxing the people of Ghana because, by the end of 2024, the NPP administration collected GH¢152.9 billion, which was a 17% tax-to-GDP ratio, up from President Mahama’s 13% in 2016. How do you then turn around to expect to collect GH¢200 billion in a broken economy?” he questioned.
The former Finance Minister further stressed that excessive taxation would stifle economic growth, discourage private sector investment, and worsen the financial struggles of ordinary Ghanaians.
He argued that the government should focus on efficient revenue collection and prudent expenditure management rather than imposing additional tax burdens.
Dr Amin Adam assured that the Minority would stand with the people of Ghana to resist any attempt to impose new taxes or increase existing ones.
“We, the mighty minority, will join the people of Ghana to resist any attempt to smuggle in new taxes or increase existing taxes. We owe it a duty to hold this government accountable and protect the livelihoods of our citizens,” he declared.
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