Friday, 24 July

2026 Mid-Year Budget Review: Minority accuses government of introducing ‘hidden taxes’

News
Kojo Oppong Nkrumah

The Minority Caucus in Parliament has accused the government of introducing new taxes despite Finance Minister Dr. Cassiel Ato Forson insisting in the 2026 Mid-Year Budget Review that there are no new taxes.

Addressing a press conference in Parliament, MP for Ofoase-Ayirebi, Kojo Oppong Nkrumah, listed several tax measures including the extension of the Growth and Sustainability Levy, the Special Import Levy, VAT on non-life insurance premiums, petroleum-related levies, and the withdrawal of tax exemptions on bunkering and marine gas oil.

The Minority argued that these measures amount to new taxes and will increase the burden on businesses and consumers.

Mr. Oppong Nkrumah also criticized the Finance Minister for failing to provide updates on government revenue and expenditure targets versus actual performance, accusing the government of using public relations to mask what he described as the true state of the economy.

Former Deputy Finance Minister and MP for Atiwa West, Abena Osei Asare, also accused the government of undermining its own fiscal discipline agenda, alleging that the Ghana Revenue Authority overspent its 2025 approved budget by about GH¢100 million.

She argued that while the government continues to preach prudent spending, agencies under the Finance Ministry must also adhere to Parliament-approved budget allocations. 

Mrs. Osei Asare further questioned how government intends to fund new projects announced in the 2026 Mid-Year Budget Review without first seeking parliamentary approval through a supplementary budget.

Source: Classfmonline.com