Finance Minister Dr Cassiel Ato Forson has declared that economic stability has returned and Ghanaians can now breathe again, urging the country to make productive use of the economic relief achieved.
Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, Dr Forson said the government would not introduce new taxes, describing the decision as part of broader efforts to ease the financial burden on households and businesses.
“Stability has returned. Confidence is back. Ghanaians can breathe again. Now, Ghana must decide what to do with that breathing space,” he said.
He explained that the government’s tax policy interventions since assuming office in 2025 were aimed at reducing the financial obligations of individuals and businesses while creating a more favourable environment for economic growth.
Among the measures, he listed the abolition of the Electronic Transfer Levy (E-Levy), withholding tax on betting and lottery winnings, the COVID-19 Levy, the Emissions (Nwusie) Levy and Value Added Tax (VAT) on motor vehicle insurance.
According to the Finance Minister, the interventions were designed to provide households with financial relief and give businesses greater room to operate, expand and contribute to economic activity.
“Mr. Speaker, since 2025, we have acted to give families breathing space and businesses room to grow. We abolished the E-Levy, the withholding tax on betting and lottery winnings, the COVID-19 Levy, the Emissions (Nwusie) Levy and VAT on motor vehicle insurance,” he stated.
Dr Forson maintained that the government’s decision not to introduce new taxes reflects its commitment to sustaining the gains made in restoring economic confidence while supporting households and businesses.
