Bryan Acheampong supports repeal of E-Levy to boost disposable income

Former Minister of Food and Agriculture, Bryan Acheampong, supports repealing the Electronic Transfer Levy (E-Levy). He believes this repeal could increase disposable income for individuals and households.

The proposed repeal aims to ease the burden of deductions from electronic transactions. This would allow Ghanaians to keep more money for essential expenses. These include school fees, housing projects, and family events like weddings.

Estimates suggest that repealing the levy could lead to a fiscal loss of about GH¢1.946 billion in 2025. However, Mr. Acheampong argues that this loss would mean a gain of GH¢2 billion for Ghanaians. This change would effectively put more money into citizens' hands each year.

He emphasized that this financial boost would positively impact the economy. It would stimulate growth, promote digital transactions, and create a business-friendly environment in Ghana. He made these statements during a debate in Parliament.

Mr. Acheampong urged his colleagues to support the repeal bill. He stressed that this decision is crucial for improving Ghanaians' quality of life. He believes it will encourage participation in the digital economy as well.

As discussions on the repeal continue, opinions remain divided among stakeholders. They are trying to balance revenue generation with easing financial pressures on the public. The final decision by Parliament will significantly affect both the economy and ordinary citizens' lives.