The UP Tradition Institute has raised concerns over what it describes as critical inconsistencies and misplaced priorities in the 2025 budget presented by the John Mahama-led government.

In a statement signed by its Chief Executive Officer, Kwabena Owusu Junior, the Institute acknowledged that the budget captures about 10% of the policies and programmes promised by the National Democratic Congress (NDC) during the 2024 elections.

However, it highlighted several shortcomings, particularly regarding economic management, agriculture, and the controversial Ghana GoldBoard (GoldBod) initiative.

The Institute criticized the government’s failure to implement key economic policies outlined in the NDC’s 2024 manifesto.

It noted that the promise to scrap import duties on vehicles and equipment for industrial and agricultural purposes was missing from the budget. Additionally, while the government pledged to reduce food inflation through agricultural transformation, only GH₵1.5 billion was allocated to the sector under the Agriculture for Economic Transformation Agenda (AETA).

In contrast, the government allocated $279 million (over GH₵4.3 billion) to GoldBod, a new entity expected to regulate and engage in the purchase, selling, and export of gold.

The Institute described this as a "terrible error in judgment," questioning why more funds were directed to gold trading than to food production, which it argues is more essential for economic growth and human survival.

“There is no country in the world where the budgetary allocation for food and agriculture is far less than that for gold trade,” the statement said, calling the government’s decision a "criminal enterprise" against the people of Ghana.

The Institute also questioned the government’s claim that GoldBod would help stabilize the exchange rate, inflation, and fuel prices, as stated in sections 131 and 132 of the 2025 Budget Speech.

It pointed out that even Guyana, the country from which Ghana is reportedly borrowing the GoldBod model, has not been able to achieve currency stability through gold trading.

“How would GoldBod, with a budget of $279 million, stabilize the exchange rate, imported inflation, and fuel prices?” the statement asked.

Another area of concern was the government’s "Big Push" initiative, which aims to invest $10 billion in strategic infrastructure under the 24-hour economy policy.

The Institute noted that despite this ambitious target, only GH₵13.85 billion (approximately $900 million) was allocated for the programme, questioning the government’s sincerity in implementing the initiative.

The Institute accused the government of deviating from its original plan to regulate small-scale mining through GoldBod.

Instead, it argued, the government is setting up a monopoly that would control gold purchasing, refining, and exports, sidelining institutions like the Minerals Commission, the Ministry of Lands and Natural Resources, and the Minerals Income Investment Fund (MIIF).

“This is a completely ridiculous strategy that will create a useless monopolization of the gold industry,” the statement added.

The UP Tradition Institute also criticized the government’s decision to abolish the 1.5% withholding tax on unprocessed gold while increasing the Growth & Sustainability Levy on mining companies from 1% to 3%.

Additionally, it highlighted the sharp contrast between the GH₵2 per meal allocated for school feeding and the GH₵4.3 billion allocated to GoldBod, questioning the government’s priorities.

The Institute called on the government to realign its budget priorities to focus on productive sectors like agriculture, genuine infrastructure development, and meaningful economic reforms instead of creating monopolies in the gold industry.