Don’t Replace E-Levy with New Taxes” – Gideon Boako Warns
Dr. Gideon Boako, Member of Parliament for Tano North Constituency in the Bono Region, has sounded a warning to the Mahama government against introducing alternative taxes in disguise. Apexnewsgh reports This caution comes after the government promised to scrap the Electronic Levy (E-Levy) and betting taxes. Speaking to the media on Monday, January 13, following the vetting of Finance Minister nominee Dr. Cassiel Ato Forson, Dr. Boako emphasized the potential implications of such a policy shift. He criticized the approach, stating that it could result in significant revenue shortfalls that the government would struggle to address. Dr. Boako argued that such shortfalls would conflict with the requirements of the International Monetary Fund (IMF), which demands robust revenue generation to meet debt servicing obligations. He noted that the IMF focuses on debt service to revenue ratio, not debt service to expenditure ratio, making expenditure cuts an insufficient solution. The Tano North MP warned that the IMF would ultimately insist on finding new sources of revenue, which could lead to the introduction of additional taxes. He urged policymakers to consider the long-term impact of their decisions and called for a more comprehensive approach to addressing Ghana’s fiscal challenges. Dr. Boako cautioned against creating false hope by abolishing taxes only to replace them with alternative levies, urging the government to be transparent and pragmatic in managing the country’s revenue needs. As Ghana navigates its economic recovery, the government must carefully balance its fiscal policies to avoid exacerbating the country’s economic challenges.
Government’s Operation Recover All Loots (ORAL) Takes Aim at Corruption
Samuel Okudzeto Ablakwa, Chairman of the new government’s Operation Recover All Loots (ORAL), has likened the initiative to a “corruption Closed Circuit Television (CCTV)” designed to uncover and reclaim looted state funds and properties. Apexnewsgh reports Ablakwa emphasized the government’s commitment to holding individuals accountable for the unlawful acquisition of public resources. ORAL was established to act as a watchdog over state resources, ensuring that public assets are safeguarded and restored where they have been wrongfully taken. Ablakwa stressed that the operation would be thorough and impartial, with no one exempt from scrutiny. “We are sending a strong message that impunity will no longer be tolerated,” he said. The recovery of looted resources is critical to addressing Ghana’s economic challenges. Ablakwa called for public support in the fight against corruption, encouraging citizens to provide credible information about looted state assets. He assured them of confidentiality and protection, emphasizing that building a nation where accountability and integrity are prioritized requires a collective effort. Ablakwa’s commitment to fighting corruption is further demonstrated by the work of the ORAL committee, which has been gathering information from the public and other sources on alleged corruption cases. The committee’s report, which will soon be delivered to President John Dramani Mahama, is expected to reveal shocking details about state capture during the previous administration. Source: Apexnewsgh.com