The Finance Minister-designate, Dr. Cassiel Ato Forson, has announced plans by the National Democratic Congress (NDC) government to establish an Independent Value-for-Money Office aimed at curbing waste in the public sector.
Speaking before the Appointments Committee of Parliament on January 13, 2025, Dr. Forson emphasized the importance of addressing inefficiencies in government spending to ensure fiscal discipline.
“No one can convince me that our budgets have no waste. The waste benefits only a select few. Its unintended consequences affect all of us as a nation. It ends up breeding fiscal indiscipline, high budget deficits, and, in the end, the outcome is haircut,” he stated.
Dr. Forson, who also serves as the MP for Ajumako Enyan Essiam and Majority Leader, explained that the proposed office would work closely with Parliament to oversee government expenditures and prevent overspending.
“Some of the things we will do from the expenditure side are the establishment of the Independent Value-for-Money Office so that Parliament will be able to set up a ceiling for government contracts that must go through independent value-for-money analysis,” he added.
The Finance Minister-designate further pledged the government’s commitment to improving the ratio of domestic revenue to GDP from the current 12 to 14 percent to 18 percent.
In addition, he underscored the need to prioritize reducing financial waste in the public sector over introducing new taxes.
“Why are we always talking about revenue? We must also look at the expenditure and cut the waste,” Dr. Forson stressed.
His remarks highlight the incoming administration’s focus on prudent financial management as a cornerstone of its economic policy.
Read also: E-Levy, betting tax to be scrapped in first budget – Ato Forson
