The Minority in Parliament has predicted that government will not be able to meet its economic targets as set out in the 2017 budget.
Speaking to journalists at the weekend, the Deputy Minority Leader, James Avedzi, said the Minister of Finance, Ken Ofori-Atta would soon return to Parliament with a downward review of its ambitious and unachievable targets during the mid-year budget review.
According to Mr Avedzi,the cuts in the sources of revenue for government and the failure to fully appreciate the challenges that may confront the economic management style of the Nana Akufo-Addo led government would affect the choices of production over taxation.
Government announced its intentions to cut the budget deficit and improve revenue performance in 2017, aside the review and scraping of taxes and levies during its first budget statement.
“They have the opportunity to come and review the targets in the mid-year. They indicated that in four months time they would come for a mid-year review.
I was even teasing them on the floor saying,”How can you present a budget in March and in July, you are coming for a review. We know they cannot attain those targets in terms of revenue that they want to collect,” Mr. Avedzi opined.
The Deputy Minority Leader also downplayed the significance of abolishing import duty taxes on spare parts, explaining that government had relinquished its stake in the trade.
“What they have done is to give money to the traders at Abbosey Okai market because who among us will know the components of the percentage price of spare parts we buy? We do not know.
They will import these parts. They will not pay tax and they will sell at the price they want. We do not have any mechanism to check them,” Mr. Avedzi stated.