Renowned economist, Dr. Sa-ad Iddrisu has raised serious concerns over President Nana Addo Dankwa Akufo-Addo’s recent move to seek parliamentary approval for over $350 million in tax waivers for 40 businesses allegedly affiliated with the New Patriotic Party (NPP).

The economist described the decision as a “deliberate attempt” to cripple the revenue-generating capacity of the incoming National Democratic Congress (NDC) administration, which is set to take office in January.

Through a social media post on Facebook, Dr. Iddrisu criticized the timing and intent of the tax waiver proposal, which comes just three weeks before the end of President Akufo-Addo’s tenure.

He argued that granting such significant waivers would create a substantial revenue shortfall for the new government, complicating efforts to implement key policies and manage the nation’s finances effectively.

This move is not only questionable but also smacks of bad faith. It appears to be a calculated attempt to undermine the incoming administration’s ability to govern. Such actions, if approved, will have dire consequences on Ghana’s fiscal health and must be resisted vehemently, Dr. Iddrisu stated.

The proposed tax waivers have sparked widespread debate among political analysts and civil society groups, with many questioning the rationale behind such a significant concession at the tail end of an administration.

Critics argue that the move undermines principles of good governance and could set a dangerous precedent for partisan financial engineering.

However, government spokespersons have defended the proposal, insisting that the tax waivers are part of long-standing agreements to boost private sector growth and stimulate the economy.

As the parliamentary session draws closer to its conclusion, all eyes are on the legislature to determine whether the proposed waivers will be approved.

Meanwhile, Dr. Iddrisu has called on civil society and the public to remain vigilant and hold leaders accountable to ensure fiscal responsibility and fairness in governance.

If approved, the waivers will likely become a major point of contention in the early days of the incoming administration, which will be faced with navigating a fiscal landscape already burdened by debt and global economic challenges.

Story By: Robicon Mornahson