'No new taxes': what it does and doesn't mean for Thursday's budget

The government says the 2027 Budget will not introduce any new taxes. Whether that holds will be clear only when Finance Minister Dr Cassiel Ato Forson reads the budget in Parliament on Thursday, November 12, at 6pm.

What was said

Deputy Finance Minister Thomas Nyarko Ampem, the MP for Asuogyaman, gave the assurance at a closed-door engagement with the Parliamentary Press Corps, Citi Newsroom and Adomonline reported. The Ghana News Agency also reported that government had indicated it would introduce no new taxes.

According to Citi, Mr Nyarko Ampem said government's spending plans would be funded from savings made by rationalising and cutting expenditure, rather than from new levies.

He also said the Finance Minister is expected to explain how oil revenues will be deployed to support infrastructure development and other national priorities, following the decision to use oil inflows to fully fund the proposed Accra–Kumasi Expressway, Citi and Adomonline reported.

What 3News is reporting

3News framed the position more cautiously, reporting that government is "not expected" to introduce new taxes.

3News also reported, as its own information, that the Finance Minister will present two documents: the budget itself and a document on the New Economy, a framework for the 24-hour economy, put at about US$10 billion over four years. 3News said the US$10 billion figure is not new.

It further reported that the budget would use data up to October, that sod-cutting for the Accra–Kumasi Expressway is expected before the end of 2026, and that the next oil-funded project would be announced. These points have not been confirmed by the Finance Ministry.

What it does not mean

A pledge of no new taxes is not the same as no changes to existing taxes, rates or fees. The full revenue measures, and any changes to existing levies, will be known only from the budget statement itself.

Until it is read on Thursday, the no-new-taxes position remains a government assurance, not a published budget measure.

GhEcho will report the budget's key measures on Thursday evening.