Government to Reintroduce Road Tolls in 2025 – Dr. Amin Adam

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Finance Minister Dr. Mohammed Amin Adam has announced that the Ghanaian government has approved an additional GH¢1.5 billion to settle unresolved claims associated with financial management companies. He also revealed that the government has approved the development of a framework for reintroducing road and bridge tolls in 2025. These announcements were made during the presentation of the mid-year fiscal policy review for 2024 in Parliament, Accra.

Key Announcements:

Settling Financial Claims:

The government has allocated GH¢1.5 billion to address outstanding claims related to financial management companies. This initiative aims to stabilize the financial sector and restore public confidence.

Reintroduction of Tolls:

The government plans to reintroduce road and bridge tolls in 2025. This measure is expected to generate revenue for infrastructure maintenance and development, addressing the need for sustainable funding for road projects.

Integrated Property Tax System:

The government will operationalize an integrated property tax system to enhance revenue collection from property taxes. This system is expected to streamline tax processes and increase efficiency.

Amendment of the Fiscal Responsibility Act:

The government intends to amend the Fiscal Responsibility Act to reinstate the numeric thresholds that were suspended in 2020. This amendment aims to strengthen fiscal discipline and ensure sustainable financial management.

Background:

Suspension of Toll Collection:

In 2020, the Minister for Roads and Highways suspended toll collection due to concerns over traffic congestion. This decision was met with criticism from many Ghanaians, who argued that the suspension was imprudent and the reasons given were unacceptable.

Implications for Country:

Financial Stability:

The additional GH¢1.5 billion allocation is expected to resolve lingering financial claims, promoting stability in the financial sector and boosting investor confidence.

Infrastructure Development:

The reintroduction of road and bridge tolls will provide a steady stream of revenue for maintaining and developing crucial infrastructure, which is vital for economic growth and development.

Enhanced Revenue Collection:

The integrated property tax system will improve the efficiency of tax collection, ensuring that more property owners contribute their fair share to national revenue.

Fiscal Discipline:

Reinstating the numeric thresholds in the Fiscal Responsibility Act will reinforce fiscal discipline, helping to ensure that government spending remains within sustainable limits.

The announcements made by Dr. Mohammed Amin Adam underscore the government’s commitment to financial stability, infrastructure development, and fiscal responsibility. By addressing outstanding financial claims and reintroducing tolls, the government aims to strengthen the economy and enhance public services.

82 thoughts on “Government to Reintroduce Road Tolls in 2025 – Dr. Amin Adam

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