NPP will formalize economy - Bawumia

efua

June 5, 2016 2:45 PM

He said government was over borrowing and over spending hence the bad shape of the economy.

A Nana Akufo-Addo government will formalise the economy by expanding the tax and production base for all to share its burden and bounties. This is according to the New Patriotic Party (NPP) running mate, Dr Mahamudu Bawumia.

He indicated that in the first year of Nana Addo’s presidency, every Ghanaian would be issued a National Identity Card to kick start the process.

Speaking to party supporters during his tour of the Tema Metropolis, Dr. Bawumia said the party would reverse and grow the agricultural sector for Ghana to achieve food security.

He scolded government for neglecting the agricultural sector to the extent that even plantain is imported.

"The agricultural sector grew by 0.04 per cent whiles manufacturing grew by -2 (negative two) per cent. And when we point it out to them, they say they are embarking on economic transformation. This is backward transformation. We want forward transformation."

"The burden of loan interest repayment on the economy is huge. Every year government needs almost Ghc10 billion to do that. And this is six times our oil revenue."

According to him, there was an urgent need to restore the health of the economy to generate jobs and comfort for Ghanaians.

The former Deputy Bank of Ghana (BoG) governor said as a matter of policy, the NPP “will give businesses who employ fresh graduates tax breaks and create an enabling environment for the private sector to flourish by abolishing killer taxes."

“The Mahama government is killing the private sector with taxes but we will manage the economy and create jobs so that the unemployment associations will be history," he added

Source: GNA

efua