• Wed. Aug 10th, 2022

The Economy will suffer if the E-levy is not passed – Ofori-Atta

ByEditor

Jan 28, 2022 , ,

Finance Minister, Ken Ofori-Atta has warned economic devastation if Parliament fails to pass the Electronic Transfer Levy (E-levy).

Speaking during a government town hall meeting in Koforidua, he highlighted that the government’s recent economic accomplishments will come to a halt if Ghanaians do not support the effort.

“If we don’t do this E-levy, we are just pushing ourselves in a way that would potentially end up in such a disaster. There was a warning because last week was a very difficult week for the country,” he predicted.

He continued “Last week we got downgraded by Fitch because they do not believe we could raise the revenues that we had forecasted because we were fighting about E-levy. So we need to moderate that because the consequences are quick.”

Meanwhile, the discussion between the government and the Minority in Parliament on the controversial E-Levy, which took place on Thursday, January 27, 2022, ended inconclusively.

He then encouraged the public to ‘persuade’ their members of Parliament to support the law and hold him responsible for all revenues and expenditures.

“What I was really expecting was for Parliament to say, we’re going to get $6.9 billion from this new tax revenue measure. So how then do you [Finance Minister] report to me [Parliament] on a quarterly basis on the uses of the fund and its application so that we move on,” he said.

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