This revelation follows a meeting between the Finance Minister and the Finance Committee, where the intention to impose additional taxes equivalent to 1 percent of the GDP was communicated.
Expressing concerns about the potential impact on the citizens, Jinapor emphasized that the public has already borne a significant tax burden.
He urged the Finance Minister to consider cost-cutting measures instead of imposing new taxes, deeming it inappropriate and unacceptable to further increase the tax load on Ghanaians.
“We just met the Minister of Finance at the Finance Committee and the minister indicated that he intends to raise an additional GH₵11 billion which is about 1 percent of GDP but we have told him that we think that the people have been taxed so much so it will be inappropriate to come with new taxes rather the minister should look at cost cutting,” Jinapor said.
“I think that it is improper and unacceptable to further come out with new taxes and increase the tax burden on Ghanaians,'' the MP added.
Ken Ofori-Atta is scheduled to present the government's 2024 Annual Budget Statement and Economic Policy to Parliament on November 15, 2023. As the presentation approaches, there have been widespread calls for the government to focus on reducing its expenditures to address the challenges facing the economy.
In a preemptive warning, Kenneth Thompson, the CEO of Dalex Finance and Leasing Company Limited, cautioned about a potential economic downturn in 2024 if the government does not alter its current trajectory of escalating expenditures.
Amidst these discussions, there are suggestions from other members of Parliament. Paul Twum Barimah, the MP for Dormaa East, hinted at the possibility of the government introducing an emission tax to tackle the impact of climate change. On the other hand, Albert Sandaare, the MP for Daffeama Bussie Issa, proposed the consideration of scrapping or renaming the COVID-19 levy.
As the nation awaits the unveiling of the 2024 Budget, the debate over taxation and fiscal policies is poised to take center stage in the coming days.