No new taxes, cheaper solar, smaller T-bill returns: what the 2027 Budget means for your money

The 2027 Budget brings no new taxes, a pay rise for government workers and cheaper solar. If you save in Treasury bills, though, your returns have dropped a lot this year.

Finance Minister Cassiel Ato Forson read the budget in Parliament on Thursday night, November 12. The full Budget Statement runs to 315 pages, and these are the lines that touch your pocket.

No new taxes

"This 2027 Budget will not introduce any new tax," Forson told Parliament.

The taxes the government scrapped earlier stay scrapped. That means no E-Levy on your MoMo transfers, no tax taken off betting or lottery wins at source, and no COVID-19 Levy.

A pay rise if you work for government

Public-sector workers on the Single Spine get a 9 per cent increase in base pay from January 1, 2027, according to the full Budget Statement.

The national daily minimum wage also goes up on January 1, from GH¢21.77 to GH¢25.04. That is GH¢3.27 more a day, and it was agreed earlier this week by government, employers and labour.

Solar just got cheaper

Solar panels and batteries will no longer attract import duty or VAT. Forson urged households, small businesses and electric-vehicle owners to switch.

"Government is making it easier to go solar," he said.

Your T-bills are paying less

This one hurts savers. The 91-day Treasury bill rate fell from 11.09 per cent in December 2025 to 4.56 per cent in the first week of November, according to the speech.

That is now below inflation, which was 5.5 per cent in October. The 364-day bill dropped from 12.94 per cent to 9.48 per cent over the same period.

The flip side is cheaper loans. Average bank lending rates fell from 22.2 per cent in October 2025 to 15.94 per cent in October 2026.

Prices

The government wants inflation at 8 per cent, plus or minus 2 points, by the end of 2027.

Inflation coming down does not mean prices are falling. It means they are rising more slowly, as our explainer on falling inflation shows.

All the big figures, from the GH¢30 billion New Economy money to the early payoff of GH¢29 billion in bonds, are in the 2027 Budget in numbers.