ILAPI Boss Schools Gov’t On Better Economic Management Policies

Executive Director for Policy Think Tank Institute for Liberty and Policy Innovation, Mr. Bismark Kwofie has argued that Ghana’s economic success depends on the effective and efficient provision of the public services on which the nation relies.

In his view, the public sector is not reliable in providing services with lots of Red Tape and corruption.

He believes Ghana’s economy must provide opportunities for people to succeed.

In order to achieve this goal, he is proposing that budget deficits must be brought under control to keep credit markets strong and interest payments to foreign creditors low.

To him, ”Ghana must also invest in its economic future to achieve the economy we envision. Most investments are made by businesses and individuals, but the government plays critical roles as a direct investor in areas such as security, less or no corruption, education, basic science, technology, and infrastructure, and as a catalyst for private investment. Without it effectively playing these roles economic growth will be weak and inequality will increase.”

”The tax system’s incentives and disincentives should enhance economic growth and address the growing inequality that undermines our national prosperity. Tax policies should not cripple businesses but must grow the economy. It is the middle-class workers and consumers, innovators, businessmen and entrepreneurs who build an economy and we must not tax them out of prosperity,” he added.

Ghana’s economic success depends on the effective and efficient provision of the public services on which the nation relies. The public sector is not reliable in providing services with lots of Red Tape and corruption.
Again, Ghana must plan for long-term deficit reduction to build a strong economy that provides the best opportunities for personal success, strengthens and builds a thriving middle class, and secures the position of the youths. To achieve these goals, budget deficits must be brought under control to keep credit markets strong and interest payments to foreign creditors low.

Ghana must also invest in its economic future to achieve the economy we envision. Most investments are made by businesses and individuals, but the government plays critical roles as a direct investor in areas such as security, less or no corruption, education, basic science, technology, and infrastructure, and as a catalyst for private investment. Without it effectively playing these roles economic growth will be weak and inequality will increase.

The tax system’s incentives and disincentives should enhance economic growth and address the growing inequality that undermines our national prosperity. Tax policies should not cripple businesses but must grow the economy. It is the middle-class workers and consumers, innovators, businessmen and entrepreneurs who build an economy and we must not tax them out of prosperity.

Source: Rashid Obodai Provencal|rainbowradioonline