President Akufo-Addo has said government will cut down by 20% the budget expenditure of all Ministries, Departments and Agencies for the year 2022.
He made this announcement at the 2022 National Labour Conference at Kwahu in the Eastern Region.
The move is government’s way of reducing costs and cutting down expenditure due to the general economic difficulties, according to the President.
“We have to make concerted efforts as partners to hasten our recovery from COVID-19 by finding intelligent ways of bringing everyone on board to contribute their quota no matter what,” he said.
Nana Akufo-Addo also bemoaned that the percentage of Ghanaians paying direct taxes is woefully inadequate and efforts must be made to bridge the gap through the E-levy.
“We cannot continue to allow less than 10%, specifically 7.8%, that is, 2.4 million people of the population to carry the direct tax burden of 30.8 million people. We must provide an opportunity for every Ghanaian to contribute towards nation building.”
He said the E-levy will provide the opportunity for every Ghanaian to contribute towards nation building, stressing that Ghanaians must accept the implications of Ghana beyond aid.
