UP Tradition Institute criticizes Mahama’s 2025 budget for promise inconsistencies

The UP Tradition Institute has raised concerns about the 2025 budget. They describe it as having critical inconsistencies and misplaced priorities. This budget was presented by the John Mahama-led government.

In a statement, CEO Kwabena Owusu Junior noted that the budget includes about 10% of NDC's promised policies for the 2024 elections. However, he pointed out several shortcomings in economic management, agriculture, and the Ghana GoldBoard (GoldBod) initiative.

The Institute criticized the government's failure to implement key economic policies from the NDC’s 2024 manifesto. The promise to eliminate import duties on vehicles and equipment for industry and agriculture was absent from the budget. While there was a pledge to reduce food inflation through agricultural transformation, only GH₵1.5 billion was allocated to this sector under AETA.

In contrast, $279 million (over GH₵4.3 billion) was allocated to GoldBod. This new entity is expected to regulate gold purchasing, selling, and exporting. The Institute called this a "terrible error in judgment." They questioned why more funds went to gold trading than food production.

The statement emphasized that no country prioritizes gold trade over food and agriculture in its budget. They labeled the government's decision as a "criminal enterprise" against Ghanaians. The Institute also challenged claims that GoldBod would stabilize exchange rates, inflation, and fuel prices.

They noted that even Guyana has not achieved currency stability through gold trading. The statement asked how GoldBod could stabilize these issues with its $279 million budget.

Another concern was the government's "Big Push" initiative aimed at investing $10 billion in infrastructure under a 24-hour economy policy. Despite this goal, only GH₵13.85 billion (about $900 million) was allocated for it.

The Institute accused the government of deviating from its original plan for small-scale mining regulation through GoldBod. They argued that this creates a monopoly controlling gold purchasing and exports while sidelining important institutions like the Minerals Commission.

"This is a ridiculous strategy," they stated, warning of monopolization in the gold industry. The UP Tradition Institute also criticized abolishing the 1.5% withholding tax on unprocessed gold while increasing mining companies' Growth & Sustainability Levy from 1% to 3%.

They highlighted stark contrasts between allocations: GH₵2 per meal for school feeding versus GH₵4.3 billion for GoldBod. The Institute urged the government to realign its budget priorities toward productive sectors like agriculture and genuine infrastructure development instead of creating monopolies in gold trading.