An Economist with the University of Ghana Business School, Lord Mensah has discarded claims that the country is headed for doom without the Electronic Transaction Levy (E-levy).
According to him, the country would definitely thrive without the e-levy.
Speaking in an interview on Joy FM’s GhanaConnect on Friday, Professor Mensah said the Finance Minister’s assertion that "there will be an economic disaster if e-levy fails to go through" is far from the truth.
The Finance Minister, Ken Ofori Atta at a Town Hall meeting on the e-levy held on Thursday, indicated that a dire economic consequence awaits Ghana if the E-Levy Bill fails to pass.
He stressed that economic gains made by government in recent years will stall if Ghanaians do not support the initiative.
“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 of that because last week was a very difficult week for the country,” he said.
The Finance Minister pointed out that the country needs the levy to increase her economic fortunes; hence, Ghanaians should be passionate about the policy as “it will give us about ¢6.9 billion.”
But Prof. Mensah stressed that the e-levy, “whether passed or not will not have much impact on this economy." This, he said is because the expenditure of the economy has been increased by ¢30 billion and over, adding, the revenue of the economy would also increase by the same margin.
He noted that the e-levy would only create some kind of 'political free space in spending' hence the push for it to be approved.
“Looking at the expenditure side of the budget, I mean clearly, you would see that there are some items that have been increased, but then also there is an item called others, which is the 7 billion. Let’s say that is swallowing the proceeds from the e-levy. Now if you take this into perspective, it gives you the picture that the e-levy is something that is coming to, excuse my language, promote that kind of political free spending,” he said.
Latest Stories
-
Let’s prioritize research quality in higher education institutions for industrial growth-Prof. Nathaniel Boso
5 hours -
Herman Suede is set to release ‘How Dare You’ on April 24
9 hours -
Heal KATH: Kuapa Kokoo, Association of Garages donate 120k to support project
9 hours -
KNUST signs MOU with Valco Trust Fund, Bekwai Municipal Hospital to build student hostel
9 hours -
The influence Ronaldo has on people, Cadman Yamoah will have same on the next generation – Coach Goodwin
10 hours -
Gender Advocate Emelia Naa Ayeley Aryee Wins prestigious Merck Foundation Awards
11 hours -
South Africa bursary scandal suspects granted bail
11 hours -
Ecobank successfully repays $500m Eurobond due April 18
11 hours -
Re: Doe Adjaho, Torgbui Samlafo IV, call for Unity among Paramountcies in Anlo
11 hours -
Extortion and kidnap – a deadly journey across Mexico into the US
11 hours -
Rihanna says fashion has helped her personal ‘rediscovery’ after having children
12 hours -
Development Bank Ghana targets GH¢1bn funding for commercial banks in 2024
12 hours -
Shatta Movement apologises to Ghana Society of the Physically Disabled after backlash
12 hours -
Sammy Gyamfi writes: Tema-Mpakadan Railway Project; A railway line to nowhere
13 hours -
Bright Simons: Is the World Bank saving or harming Ghana?
13 hours