Finance Minister urged to create tax environment that stimulates business growth

By Caleb Kuleke, GNA  

Ho, Nov. 09, GNA – Youth in the Volta Region have appealed to the Minister for Finance, Dr. Cassiel Ato Forson, to establish a favorable tax environment that stimulates business growth and addresses critical youth unemployment.   

They urged the Government to design fiscal policies that incentivise private sector expansion, rather than burdening emerging entrepreneurs with heavy taxes.  

Speaking to the Ghana News Agency (GNA) ahead of the 2027 Budget Statement and Economic Policy presentation scheduled for November 12, 2026, the youth called for a comprehensive review of the current tax structure to unlock sustainable job opportunities for young people.  

According to them, local businesses required targeted policy protections and strategic interventions from the Ministry of Finance to withstand prevailing macroeconomic pressures.  

Mr Joshua Ayayi, Founder of the Youth Alliance for Sustainability, emphasised that the private sector could not absorb the growing number of unemployed youth if it remained constrained by severe regulatory and tax burdens.  

He urged the Finance Minister to shift the tax regime toward actively rewarding enterprise expansion and supporting self-employment initiatives among the youth.  

Mr Ayayi asked the Minister to provide a clear roadmap detailing how the government intended to manage public debt without passing excessive financial burdens onto citizens. 

He further urged the Government to facilitate cheaper, more accessible credit facilities for local businesses, with a particular focus on small and medium-sized enterprises (SMEs).  

Mr Ayayi also called for the implementation of robust measures to sustain long-term price stability and prevent economic deterioration of the Ghana Cedi.  

Mr Lucky Adzah, a mobile phone dealer at Dzemeni in the South Dayi District, also appealed to the Finance Minister to reduce taxes and import duties on mobile devices.  

He noted that the heavy tax burden has driven up retail prices significantly, making essential communication tools unaffordable for many residents.  

He also urged the government to introduce deliberate interventions to lower the overall cost of living, with a specific focus on making electricity more affordable.  

GNA  

Edited by Maxwell Awumah/Benjamin Mensah