President Akufo-Addo has appealed to Ghanaians to help the government rebuild Ghana's economy.
He made the appeal when he delivered a speech at the 11th Quadrennial Congress of the Trades Union Congress (TUC) on Tuesday, March 23, 2021.
The President said the introduction of the new taxes was necessary to sustain the recovery of Ghana’s economy.
“These measures sustained the economy, restored some lost jobs and incomes, whilst opening windows of new opportunities for others. The time has now come for us to take the next set of actions required for the sustained recovery of the economy,” Akufo-Addo said.
“The truth of the matter is that we are not in normal times, and I appeal to all Ghanaians, including Organised Labour, to assist Government in this endeavour to help rebuild our public finances and economy.
“We need to mobilise additional resources to cater for the new challenges confronting us whilst meeting other statutory requirements.”
President Akufo-Addo called on Ghanaian workers to bear with the government, insisting the country’s economic challenges will soon be over.
“I, therefore, urge all Ghanaian workers to bear with the government in these unusual and rather challenging times.
"I am confident that sooner, rather than later, and together, we can create the happy, progressive and prosperous nation we all desire,” he added.
Finance Minister, Osei Kyei Mensah Bonsu announced a number of taxes to be imposed on Ghanaians while reading the budget on Friday, March 12, 2021.
These taxes include a COVID-19 Health Levy; 1% increase in National Health Insurance Levy and 1% increase in flat VAT rate.
There is also a 30 pesewas increase in fuel prices to take care of excess power capacity charges [20 pesewas] and Sanitation and Pollution Levy [10%].