2020 budget: 5-year temporary tax extension unheard of – Terkper

Former Finance Minister Seth Terkper has raised concerns over portions of the 2020 budget statement read by finance minister Ken Ofori-Atta last week.

Mr. Terkper said the extension of temporary taxes for five years by the government is unheard of.

Analyzing the budget with Francis Abban on the Morning Starr Tuesday, he said “temporary taxes extended for 5 years is unheard of. It shouldn’t be the case and should never happen.”

“Under Ex-President Rawlings, when the economy went down, temporary taxes were introduced on the revenue side. When there is recovery, taxes were taken off,” he indicated.

“We are told we are on a path of unprecedented fiscal consolidation meanwhile that is not the case”.

On flagship projects of the ruling government he said “flagships should have given us breakdowns. We should know how much is going into food, classroom blocks among others.”
“We’re not in the 2016 situation where there are power crisis and the like and so we expected much more,” he ended. Read Full Story