Akufo-Addo’s economic transformation on track – NPP

The ruling New Patriotic Party (NPP) is optimistic workers in both the formal and informal sectors will begin to reap the dividends of the Akufo-Addo government as the local currency grows “in strength.”
In a statement to mark Workers’ Day on May 1, the NPP said the “economy is stabilizing” as a result of tax cuts and the implementation of other policies.
“The HOPE and CHANGE that Ghanaians have been yearning for is here.
As we commemorate May Day, it is the hope of the New Patriotic Party that workers across the country will take stock of the past few years and work tirelessly towards achieving economic progress and strengthening our democracy. Such a commitment from the nation’s workforce will build a prosperous Ghana,” the acting General Secretary of the NPP John Boadu said.
Below is the full statement:
LET’S REMAIN STEADFAST AND WORK FOR GHANA BEYOND AID
As we celebrate workers worldwide, the New Patriotic Party salutes all Ghanaian workers, both in the formal and informal sectors.
We are proud of your hard work and patriotic contribution towards Ghana’s development over the years.
This year’s celebration comes at a time when our President, Nana Akufo-Addo, is spearheading economic transformation, after the collapse of the economy by the former administration, led by H.E John Mahama.
Currently, our currency is growing in strength and the economy is stabilising.
To lessen the burden of the Ghanaian worker, the Akufo-Addo government in less than four months in office has implemented the following amongst others;




• Abolished levies imposed on ‘kayayei’ by local authorities
• Abolished levies imposed on religious institutions by local authorities
• Abolished the 1% Special Import Levy
• Abolished the 17.5% VAT/NHIL on domestic airline tickets
• Abolished the 17.5% VAT/NHIL on financial services
• Abolished the 17.5% VAT/NHIL on selected imported medicines, that are not produced locally
• Abolished the 5% VAT/NHIL on Real Estate sales
• Initiated the process to abolish duty on the importation of spare parts
• Reduced National Electrification Scheme Levy from 5% to 3%
• Reduced Public Lighting Levy from 5% to 2%
• Reduced special petroleum tax rate from 17.5% to 15%
• Replaced the 17.5 VAT/NHIL rate with a flat rate of 3 % for traders
• Granted Capital Gains Tax Exemption on stocks traded on the Ghana Stock Exchange or publicly held securities approved by the SEC
• All allowances due soldiers at the various missions have been fully paid. $39 million in arrears have also been paid
• Peacekeeping allowance increased and paid from $31 to $35
The NPP led government has not reneged on its promise of providing Jobs. Already, the following steps to create Jobs have been implemented;
• Approval has been given to employ 11,000 health trainees who graduated between 2012 and 2016
• Stimulus package for industry: Government has allocated Ghs 220 million to support distressed but viable companies around the country
• 1200 agricultural extension officers have been hired and trained nationwide to support Planting for Food and Jobs.
The HOPE and CHANGE that Ghanaians have been yearning for is here.
As we commemorate May Day, it is the hope of the New Patriotic Party that workers across the country will take stock of the past few years and work tirelessly towards achieving economic progress and strengthening our democracy. Such a commitment from the nation’s workforce will build a prosperous Ghana.
The NPP urges workers from the various sectors of the economy, especially organised labour to remain steadfast in the collective interest of our dear nation Ghana.
The wellbeing of the Ghanaian workforce and the future of their children are our priorities.
We will fulfill our promises to the Ghanaian people
God bless the workers of Ghana! God bless Ghana!
……signed……
JOHN BOADU
(General Secretary, Ag.)

Source:Starrfmonline.com