News:
March 3, 2017
The National Democratic Congress have been frightened by the level of innovation and decision taken in the 2017 budget, according to Monitoring and Evaluation minister Dr. Anthony Akoto-Osei.
The Finance Minister Ken Ofori Atta on Thursday, March 02, 2017 announced major tax cuts in government’s first budget presented to Parliament. The tax cuts are in fulfilment of promises made by the Akufo-Addo-led government ahead of the 2016 elections.
The tax cuts include the scrapping of the 1% Special Import Levy, Kayayei Market Tolls, 17.5% VAT/NHIL on financial services, 17.5 % VAT/NHIL on selected imported medicines, that are not produced locally and duty on imported Spare parts.
The minority has, however, described the budget as deceptive and populist. According to former deputy Finance Minister, the budget doesn’t preserve the medium term objective of the country.
But Dr. Akoto-Osei said the NDC is just shocked that the Akufo-Addo led government has been bold and kept its promises in its first budget.
“I think they are frightened that we are able to deliver on our promises. The budget has frightened them. How we are able to do it is the difference between us and them,” Dr. Akoto Osei told Class FM.
The Monitoring and Evaluation Minister added: “That is why we keep saying there is a difference in the style of economic management plans between us. They are just frightened.
“They know they have sent the country into a bad state and they don’t think we could come out of it. But we have been innovative enough, we are implementing our promises and the economy is going to be back on growth path.”