The budget for 2023 that Finance Minister Ken Ofori-Atta presented in Accra yesterday was widely panned by the minority party in parliament.
The NDC members said the budget was worthless and gives the country’s young no future.
Dr. Cassiel Ato Baah Forson, the Minority Finance Spokesperson, said the budget offered little hope for the young in especially because of the impending freeze on employment.
He also said that the exemptions previously granted to citizens will be revoked due to the decrease of the contentious e-Levy headline rate from 1.5% to 1% of the transaction amount and the elimination of the daily threshold.
“This means that Ghanaians would start paying taxes on the little money they send, including even GH¢10,” he said.
“The budget provides no hope for the youth, traders and everybody because taxes will go up,” Dr Forson said.
He said for the minister to admit that there would be some form of debt restructuring following the negotiation with the International Monetary Fund (IMF) indicated that President Nana Addo Dankwa Akufo-Addo was not honest with Ghanaians when he said “there will be no haircut.”
“The only debt that will not be part of the restructuring will be Treasury Bills. This means that all external debts, including Euro bonds, will get a haircut,” he added.
According to him, the budget would present severe and extreme austerity in 2023.
The Spokesperson said the budget was mere grammar because it failed to attach appendixes where the actual numbers could be found for critical analysis.
“Indeed, the Ghanaian economy is in an intensive care and the kind of dozes presented will only lead to our death,” he added.
They contended that the budget provided nothing but unbearable hardship to the citizens.