Bringing back road tolls should be guided by a comprehensive cost-benefit analysis – Deloitte

Public accounting firm, Deloitte, says it has noted  the government’s plans to bring back road tolls with a technology based toll administration system to drive collection effectively.

Although the proposal to introduce technology based toll administration to improve efficiency is commendable, Deloitte suggests that bringing back of road tolls must be guided by a detailed cost-benefit analysis. “This will ensure the revenue to be generated from the tolls will be worth the time and resources to be invested in administering same,” the accounting and audit firm said this during it review of the 2025 budget statement.

The public accounting firm said that “Lastly, on top of the new measures presented , we urge the government to also focus on the compelling demand to expand the tax net to cover the informal sector as the sector holds essential unexploited revenue streams. On this note, we believe the use of technology, tax education and raising awareness and reforms to ease compliance will be key for reaching this objectives.” Deloitte also said that they are expecting some specific details on the 24-Hour economy policy conceptualized by the Mahama administration.

Dr Cassiel Ato Forson, the Minister for Finance, had declared that government’s recommended 24-hour economy policy will be formally presented to Parliament for approval.

Dr Cassiel Ato Forson disclosed this on Tuesday, 11th March, during the presentation of the 2025 Budget Statement and economic policy to Parliament. The policy is an essential initiative of the National Democratic Congress  (NDC) under the leadership of President Mahama, aspires to boost economic productivity by encouraging l  local businesses to operate at all hours.

Dr Forson stated that the 24-hour economy has the the capacity to create jobs and promote sustainable economic growth. “Mahama’s administration is devoted to the pursuit of the 24-hour economy policy,” he said.

But in its analysis of the 2024 Budget and Economic Statement, Deloitte said “We await specific details on the 24-Hour economy, using government procurement to foster local development and the ‘Big Push’ comprehensive infrastructure plan, which aspires to allot US$10 billion to fund infrastructural development.

“Ghana is already having the mandatory legal structure for which we await with interest strengthening fiscal management to ensure debt sustainability. The present debt levels within the energy sector,particularly in electric power generation and supply, must be addressed with the proposed comprehensive and concerted push.“At Deloitte, our purpose drives us to make a meaningful impact, and in these challenging times, we live up to this promise making sure that our clients, the public and society are  informed about the economic updates and it effects.

The accounting and audit firm noted that the resolve to reduce spendings can help restore the confidence of investors and sustainable economic growth .

“We are committed to supporting the government’s resolve to be evaluated in its expenditure as this can help restore the confidence of investors and sustainable economic growth”, as Deloitte said in its review of the 2024 Budget.