We never said E-Levy would solve all our problems – Oppong Nkrumah

The Minister for Information, Kojo Oppong Nkrumah, has refuted assertions in the public that the government stated that the Electronic Transfer Levy (E-Levy) would be used to resolve all the economic challenges in Ghana.

According to him, the E-Levy was only targeted and designed to raise revenue for specific sectors of Ghana's economy.

Speaking in an interview on Oyerepa TV, monitored by GhanaWeb, on Monday, the minister added that the claims that the government said the E-Levy would resolve all the problems of the country are absurd because the projected revenue from the levy is a drop in the ocean looking at Ghana’s total revenue needs.

“We never said that (the E-Levy will resolve all our problems). I was part of the government team advocating for the passage of the levy and we stated what the E-Levy would be used for; we never said only the E-Levy would solve all of Ghana’s problems.

“We said that if the E-Levy is properly implemented it would give the government about GHC6 billion in revenue. If you have a budget of over GHC130 billion, will GHC6 billion solve all of Ghana’s problems,” he said in Twi.

Oppong Nkrumah, the Member of Parliament for Ofoase Ayirebi, also said that the E-Levy is not even recouping the expected revenue because of the stiff opposition it saw before it was passed into law.

What Ofori-Atta others said about E-Levy before it was passed:

Ken Ofori-Atta:

The Minister of Finance, Ken Ofori-Atta, cautioned of dire economic consequences if the proposed Electronic Transaction Levy Bill is not approved.

According to him, Ghana's economy could potentially end up in a disaster if lawmakers and citizens fail to support the tax measure.

Addressing participants at a Town Hall meeting on Thursday, January 28, Ken Ofori-Atta underscored the importance of the bill being approved in order not to erode the economic gains made by the government.

"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.

He cited that the recent downgrade of Ghana's economy by rating agency- Fitch- is a precursor of what may happen to the economy if the E-Levy Bill is not passed.

"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," he said.

Stephen Amoah:

The Member of Parliament (MP) for Nhyiaeso, Dr. Stephen Amoah, said that the governing New Patriotic Party MPs will ensure that the E-Levy bill is passed at the right time.

According to him, the implementation of the E-Levy will help transform the lives of Ghanaians.

"We will pass it, we, we will pass it at the right time, they can't do anything. We are in government. If they claim they want to make us unpopular, why won't they stop? Because they know this is going to transform and change the lives of Ghanaians.

"They know this is going to reverse the consequences of the COVID-19, they know this is going to put our fiscal space in the right perspective, and they are afraid that Ghanaians will continue to build their goodwill and confidence in this government," he stated.

Osei Kyei-Mensah-Bonsu:

The Majority Leader in Parliament, who is also the Minister of Parliamentary Affairs, Osei Kyei-Mensah-Bonsu, also said if Ghanaians want to see a collapse in the country's economy, then they should go ahead and reject the introduction of E-Levy.

According to him, the E-Levy will revitalize the economy, hence, the need for it to be introduced.

"Mr Speaker, the minority leader is adding that they have taken a position that they want to stand with the public to reject the E-Levy. Mr Speaker, we on this side want to stand with the republic to ensure the revitalization of the economy; if the people want to see the collapse of the economy, so be it for them," he said.

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