Founding President of IMANI Africa, Franklin Cudjoe
The Founding President of IMANI Africa, Franklin Cudjoe, has shared his views on the government’s 2025 Budget.
In a Facebook post on Tuesday, March 11, 2025, shortly after Minister of Finance, Dr. Cassiel Ato Forson, concluded the budget reading, Cudjoe described the budget as “a humane budget.”
He commended the government’s approach and decision to reduce the tax refund to cater for nuisance taxes that the government will abolish.
He further expressed his admiration for the minister, praising him as “smart.”
Cudjoe added that Dr. Forson’s approach to reducing the tax fund to bridge the gap created by the potential removal of certain taxes was a surprising move—one that many would not have considered.
Cudjoe welcomed the change in government and the measures outlined in the budget, stating, “Smart Finance Minister. Reducing tax refund to take care of eliminated taxes? Didn’t see that coming. A humane budget. Fresh Air!”
His comments followed the minister’s announcement to reduce the tax refund ceiling by 2%.
Dr. Forson explained that the reduction from 6% to 4% of the total revenue would save the country GH¢3.8 billion and help close the shortfalls in revenue resulting from the cancellation of the E-Levy and other taxes.
“We are reducing the current tax refund ceiling by 2 percentage points from 6% to 4% of Total Revenue as defined in Section 69 of the Revenue Administration Act, 2016 (Act 915). 147 and by reducing the ceiling on the tax refund from 6% to 4%, we will save GH¢3.8 billion.
“This amount is enough to close the revenue shortfall from the removal of the E-Levy amounting to GH¢1.9 billion and the Betty Tax of GH¢180 million. 148. Mr. Speaker, already we have saved GH¢3.8 billion for 2025 alone from only one source and this is enough to close the gap from the taxes that we have removed,” he said in Parliament.
Read the post below:
MAG/AE
Meanwhile, watch as the Minister of Finance presents the 2025 Budget statement