A Professor of Political Science at the University of Ghana, Ransford Edward Van Gyampo, has lauded the Economic Summit John Dramani Mahama has proposed in his first four months in office.
As part of his plans to ensure macro-economic stability, John Dramani Mahama, has promised to launch an urgent economic recovery and fiscal consolidation plan upon assumption of office.
He says his plan will be drawn from an economic dialogue that would be held within the first 100 days of coming into office.
According to him, the move, which would be his number one priority, would be implemented by cutting down government expenses, tackling corruption and waste in the system, as well as widening the tax net amongst others.
This was a promise he reiterated during the launch of the NDC’s Manifesto at Winneba Saturday, August 24, 2024, after its initial revelation at the 8th CEO Summit in Accra Monday, May 27, 2024.
At the summit, the President indicated that the nuisance Electronic transaction levy which has become an albatross to many businesses would also be abolished to bring relief to businessmen and women.
“The number one priority will be stabilising the economy and restoring a stable currency by launching an urgent economic recovery and fiscal consolidation plan following a national economic dialogue to be held within one hundred days of assumption of office.
“We will do this by pruning the huge government expenditures, preventing waste and corruption, and boosting revenues by expanding the tax net. We will simplify the VAT and streamline its collection. We will abolish the e-levy and some taxes that have become a burden on businesses and households. We will not burden you with endless tax audits and harass you with EOCO,” he said.
Reacting to the initiative after the NDC’s Manifesto launch, Prof. Gyampo in a circular released Sunday, August 25, stated that the proposed economic summit is the way to go as far as the “winner-knows-all” politics is concerned.
“The NDC Manifesto as was delivered, contains simple and sensible interventions. The ORAL and Fiscal Consolidation plans are the way to go. The proposed Economic Summit is a great antidote to the current Winner-Knows-All Politics,” he stated.
