The Minority is predicting that government will not be able to meet economic targets as set out in the 2017 budget. According to them, the cuts in the sources of revenue for the government and the failure to appreciate fully the challenges that may confront the economic management style of the new government will affect the Akufo-Addo government’s choice of production over taxation. Government announced its intentions to cut the budget deficit and improve revenue performance in 2017, aside the review and scraping of taxes and levies during its first budget statement. –
But speaking to the media, the Deputy Minority Leader, James Avedzi, said the Finance Minister will be running back to Parliament with a downward review of its ambitious and unachievable targets during the mid-year budget review.
“They have the opportunity to come and review the targets in the mid-year. They indicated that in four months time they will come for a mid-year review. I was even teasing them on the floor saying, how can you present a budget in March and in July, and you are coming for a review. We know they cannot attain those targets in terms of revenue that they want to collect,” Mr. Avedzi opined.
The Deputy Minority Leader also downplayed the significance of abolishing import duty taxes on spare parts, as he explained that government had relinquished the stake it had it their trade.
“What they have done is to give money to the traders at Abbosey Okai market because who among us will know the components of the percentage price of spare parts we buy? We do not know. They will import these parts. They will not pay tax and they will sell at the price they want. We don’t have any mechanism to check them,” Mr. Avedzi stated.