Dr. Cassiel Ato Baah Forson, the Minister of Finance designate, has vowed to abolish the controversial e-levy in his first budget if his appointment is approved.
Speaking during his vetting at the Appointments Committee of Parliament on Monday, Dr. Ato Forson reiterated his longstanding opposition to the levy, describing it as an impediment to financial inclusion and a cash-lite economy.
“My position on the e-levy is not new. It has not changed, and I still stand by my position to abolish it,” he affirmed.
While acknowledging the importance of revenue generation, Dr. Ato Forson maintained that the e-levy does not fit the classification of direct, indirect, or excise taxes. “When approved, I will abolish the e-levy in my first budget,” he declared.
Outlining his economic priorities, Dr. Ato Forson emphasized the need to stabilize prices, strengthen the Cedi, and create jobs. He assured the committee that in the short term, his administration would focus on expenditure-based fiscal consolidation while safeguarding economic growth and protecting vulnerable populations.
On inflation, he identified food inflation as a key driver and proposed immediate interventions. “There is an urgent need to reduce inflation by tackling food inflation,” he stated.
To achieve this, Dr. Ato Forson plans to implement an Agriculture for Economic Transformation Agenda (AETA), which aims to boost agricultural productivity, lower food prices, and create employment opportunities.
He explained that under AETA, government expenditure would prioritize the agricultural and agri-business sectors, promoting economic growth through enhanced productivity.
Dr. Ato Forson’s assurances come amidst heightened public scrutiny over the country’s economic challenges. His pledge to scrap the e-levy and address pressing fiscal issues has been met with mixed reactions, reflecting the significance of his potential role in shaping Ghana’s economic future.
If approved, Dr. Ato Forson will be tasked with delivering on these promises as the government navigates a challenging economic landscape.
Story By: Robicon Mornahson
