Minority Leader opposes tax exemption repeal

In a heated parliamentary debate, Minority Leader Alexander Afenyo-Markin criticized the Finance Minister. He opposed the decision to abolish tax exemptions for the private sector. Afenyo-Markin argued that this move would stifle business growth and hinder job creation.

He emphasized that tax exemptions are vital for economic expansion. They provide businesses with more disposable income to reinvest. This helps companies scale up operations and create jobs.

The Minority Leader pointed out that the Finance Minister did not offer alternative incentives. He suggested this shows a lack of understanding of the private sector's needs. Instead of eliminating tax exemptions, he urged the government to introduce strict monitoring mechanisms.

These mechanisms would prevent abuse while ensuring transparency and accountability. This approach would allow businesses to benefit from exemptions without harming revenue collection.

The debate highlighted concerns about the Finance Minister's budget statement. Many believe it overlooked the importance of tax incentives for private sector competitiveness. Business leaders have echoed Afenyo-Markin’s stance, warning that removing exemptions could hurt operations and expansion.

As the government considers its next steps, it remains unclear if they will reconsider their position or implement new measures to support private sector growth.