On Monday, January 13, 2025, Dr. Cassiel Ato Forson appeared before the Appointments Committee of Parliament to be vetted as the Minister of Finance-designate.

He answered questions on taxation, inflation, and matters regarding the economy and how it will be restored to a sound footing.

Ato Forson argued that there is no need to increase taxes given the country’s substantial potential in revenue mobilization.

GhanaWeb Business in this article lists the 5 major things the Minister of Finance-designate said that got many talking.

Scrapping E-Levy

Dr. Cassiel Ato Forson pledged to remove the controversial E-Levy in the government’s first budget, should he be approved.

“My position on the E-levy is well known and I do not intend to run from it. I have written articles against the E-levy, I championed the position against the E-levy and I still stand by it. The E-levy is neither a direct tax, an indirect tax, nor an excise tax. I insist that the betting tax must be abolished and as Finance Minister, I will abolish it in my first budget because it has failed,” he stated.



Scrapping betting tax

He also touched on scrapping the betting tax which generates GH¢50 million cedis annually.

In his view, this and the aforementioned taxes hinder economic progress.

Specifically, he pointed out that the E-Levy discourages digital transactions and obstructs the country’s move towards a cashless economy, while the betting tax generates minimal revenue.

"The noise with the betting tax does not comprehend the imposition of such a tax," he stated, suggesting that removing it would not harm Ghana's economic progress.

Explaining how Ghana will pay its bills with fewer taxes, Dr. Ato Forson’s answer was "You don’t necessarily have to increase taxes before you rake in revenue."



Reintroduction of road tolls

The Minister of Finance-designate stated that the government will re-introduce road tolls in line with the party’s 2024 manifesto.

He said the NDC remains committed to its promise to bring back road tolls – a policy which was removed by the previous government led by former President Nana Addo Dankwa Akufo-Addo.

“The previous government indeed removed the road toll but getting to the end, they signaled that the road toll is coming back. They submitted it to Parliament but it was not laid despite a concession agreement with a company to reintroduce it," he said.

“The NDC indicated from day one that the road toll will come back. We are not running away from it. So I can assure you we are a party that sticks to our promises. And whatever we have promised to do, we will do just that. If the road toll is a way to raise revenue, we will raise the revenue,” he added.



Stabilize the Cedi and job creation

On the depreciation of the local currency, Dr. Forson emphasised the need for sound fiscal and monetary policies to foster economic stability and growth.

He said this will tame inflation and promote job creation in the country.

Dr. Forson also pledged to adopt prudent fiscal measures to curb price increases and ensure that the government’s spending aligns with its revenue-generating capacity.

Free SHS

The Free Senior High School (SHS) policy, which was originally introduced by the Akufo-Addo administration, will be maintained and enhanced.

This statement follows President Mahama’s promise during his 2024 campaign to build upon, rather than abolish, the policy.

SA/MA