NDC Brings ‘Azaa’ Budget …Removes 3 Taxes & Adds 4 New Taxes

Member of Parliament (MP) for Karaga and former Finance Minister, Dr Mohammed Amin Adam, has accused the National Democratic Congress (NDC) led-Government of putting out misleading information and what appear to be intentionally manipulated figures in the 2025 Budget Statement and Economic Policy presented to Parliament yesterday Tuesday March 11, 2025.

Soon after the 2025 Budget statement was read in Parliament, Dr. Adam told journalists in Accra that three out of the six taxes which the current Finance Minister, Dr. Ato Forson claimed to have been  abolished by the NDC-Government were non-existent taxes which were not being collected by the previous Government anyway.

He pointed out that the Emissions Levy, the Withholding Tax of Lotto and VAT on Motor Insurance were not being collected and therefore it is misleading for Dr. Ato Forson to have told Ghanaians that the new Government has abolished the said taxes in the 2025 Budget statement.

It is true however that the 2025 Budget has abolished the Covid Levy, the E-Levy and the ⁠1.5% Withholding Tax on Gold Exports.

Interestingly, the 2025 Budget, after abolishing the Covid Levy, E-Levy and the 1.5% Withholding Tax on Gold Exports has imposed four taxes are the 2% growth and sustainability levy on mining companies, the ⁠imposition of growth and sustainability levy from 2025 to 2028 on selected sectors, the ⁠imposition of special import levy from 2025 to 2028 and the  ⁠imposition of VAT on non life insurance.

These newly imposed taxes had stopped to be in existence since January 22025 because they had sunset provisions on them and were by law automatically repelled in December 2024.

Per the 2025 Budget Statement and Economic Policy presented to Parliament yesterday Tuesday March 11, 2025 by Finance Minister Dr. Ato Forson, the NDC Government has taken a decision to impose them on Ghanaians from 2025 to 2028.

COST OF LIVING

Dr Mohammed Amin Adam criticized the NDC Government for not addressing the issue of cost of living although the party had capitalized on that subject as a major political campaign message:

“The Budget did not address cost of living issues. Transport fares continue to increase. There was no mention of stabilising petroleum prices. It did not address energy bills, electricity bills, or water bills”, Dr. Adam noted.

He continued: “Looking at all the indicators, these bills will continue to increase. We thought that, having campaigned on the cost of living crisis and come to power with the support of the Ghanaian people, the least the government could do was present a budget that would address the cost of living crisis in terms of transport fares, petroleum prices, and energy bills.”

AFENYO-MARKIN.

The Minority Leader, Alexander Afenyo-Markin, in commenting on the Budget statement in  Parliament described it as an “azaa” budget to mean it is a scam.

Afenyo-Markin expressed disappointment that the much-touted 24-hour economy policy, a major campaign promise from President John Dramani Mahama and the NDC to Ghanaians, was absent from the budget statement.

“We have witnessed what we can best describe as an “Azaa budget”. Mr Speaker, their much-talked-about 24-hour economy, where is it? The President came here and said it was not, Now, the Finance Minister comes here and again the presents the budget, and again the 24-hour economy policy is not included in his budget statement”, he stated.

The 24-hour economy policy, which the NDC has marketed as a game-changer for job creation and economic growth, was expected to be the centerpiece of the government’s economic recovery plan. However, Mr. Afenyo-Markin noted that the Finance Minister provided no clear framework for its implementation.

“Mr. Speaker, the youth of this country have been waiting for this 24-hour economy policy, yet the Minister tells us it will be brought later. Eii, Ato! It is clear that all the jobs they promised the youth of this country were merely an ‘Azaa’ promise.” he bluntly highlighted.

The budget, themed “Resetting the Economy for the Ghana We Want,” outlines a plan to stabilize the economy and address Ghana’s financial crisis. The government aims to implement various policies, including the Ghana Gold Board Bill for better foreign exchange management and reforms in public financial management.

Afenyo-Markin said the Budget merely repackages old interventions without offering fresh solutions to Ghana’s economic woes. He argues that without a clear roadmap for job creation and economic transformation, the budget lacks inspiration and hope for Ghanaians.