The General Secretary of the National Democratic Congress (NDC), Johnson Asiedu Nketia has described the maiden budget by the government as a deceptive budget saying it is a ‘sakawa’ budget.
According to him, the 2017 budget statement and economic policy presented before parliament is deceptive.
The government of President Nana Addo Dankwa Akufo-Addo has abolished taxes on raw materials to ensure manufacturers are able to stay in business and the 1% market tolls which has existed for several years.
Nana Addo during the electioneering campaign promised to cut down and eliminate some taxes will restore fiscal discipline, promote debt sustainability and support private sector development.
Minister of Finance Ken Ofori-Atta has indicated that said the budget aims at building strong fiscal foundation for the Ghanaian economy.
He said the government will reduce tax exemptions and also broaden the tax base as part of several measures being considered to protect and enhance the public purse.
He said the NPP economic focus is to move away from taxation to production by reducing the corporate tax rate from 25% to 20%.
He said “Government is just reducing the common fund and GETFund in order to be able to fulfil its one million dollars to each constituency promise. This is pure ‘sakawa'”.
“This is a 419 budget. On the face of it, the budget seems sweet but it contains bitter pills. There are hard times ahead for all of us and we should brace ourselves,” he added