Member of Parliament for Kwabre East, Akwasi Gyamfi Onyina-Acheampong, has faulted the government’s 2026 budget as lacking the capacity to achieve its targets.
According to the legislator, proposed revenue cuts, like the cancellation of the COVID-19 Health Recovery Levy, make it doubtful that enough cash will come in to achieve the year’s targets.
In addition, Mr Onyina-Acheampong said failed revenue targets from the 2025 budget make it difficult to believe projections.
The Kwabre East MP was speaking during debates on the budget in Parliament and said the government’s plan, presented by Finance Minister Dr Cassiel Ato Forson, lacks clarity on its overall policy direction.
“Mr Speaker, the 2025 budget highlighted that by the end of the third quarter, revenue would be GH¢162 billion, but we achieved GH¢154 billion — that’s a shortfall of close to GH¢8 billion,” Mr Onyina-Acheampong said in the House.
He added that despite this shortfall, the government proposes to cancel some tax handles, yet projects an 18 per cent increase in revenue, a projection the MP described as not credible.
He also criticised the introduction of new taxes in the previous budget despite promises not to do so, questioning the Finance Minister’s credibility.
Background
The 2026 Budget projects total revenue and grants of GH¢268.1 billion, representing about an 18 per cent increase over the 2025 figure.
As part of the reforms, the government has abolished the COVID-19 Health Recovery Levy, reduced the effective VAT rate from 21.9 per cent to 20 per cent, and raised the VAT registration threshold from GH¢200,000 to GH¢750,000.
The budget appropriates GH¢302.5 billion for total expenditure, signalling a large fiscal push even as the government promises tighter revenue mobilisation and disciplined spending.