The Minority in Parliament has raised concerns over a projected 22.8% increase in taxes on domestic goods and services in 2027, warning that the rise could put additional financial pressure on households and businesses.
The Member of Parliament for Karaga and Ranking Member on Parliament’s Finance Committee, Dr Mohammed Amin Adam, said the 2027 Budget projects revenue from these taxes to increase from GH¢77.3 billion in 2026 to GH¢94.9 billion in 2027.
In the Minority’s assessment of the Budget, Dr Amin Adam noted that the projected increase was significantly higher than the expected 13.2% growth in nominal Gross Domestic Product (GDP).
He argued that the figures suggested Ghanaians would pay more in taxes on goods and services, despite the government’s assurance that it would increase revenue without introducing new taxes.
The Minority also questioned differences between the revenue projections in the Budget and the government’s Fiscal Strategy.
According to Dr Amin Adam, the Fiscal Strategy projected GH¢101.5 billion in taxes on goods and services for 2027 and GH¢131.4 billion for 2028.
However, the Budget presents lower estimates of GH¢94.9 billion and GH¢105.1 billion for the same years.
He said the government had not explained the differences between the two sets of projections, raising questions about the consistency of its revenue forecasts.
The Minority warned that the projected increase in tax revenue could worsen the cost of living and raise operating expenses for businesses.
It therefore called on the government to explain the differences in the figures and clarify how it intends to generate the additional revenue without introducing new taxes.
