The Flagbearer of the National Democratic Congress, Former President John Dramani Mahama has spelt out their economic policies which will “reset” Ghana`s economic woes back into it good health.
In this vote seeking era by the various political parties and many independent presidential candidate, manifesto presentation has been on it ascendency since it is the only properly and officially drafted document which depicts the route through which respective presidential candidate when voted into office will utilized in providing physical infrastructure and fiscal economic policies.
Therefore, a manifesto in simple terms is the official public declaration of aims and policy objectives, which serves as the road map guide aiding electorates to choose their preferred presidential candidate to form the next government.
On Saturday August, 24, 2024, the Flagbearer of the National Democratic Congress, Mr John Dramani Mahama at Winneba, presented the the Party`s manifesto which in the view of many, including the leadership of the party, is “The Game Changer” manifesto. In the document [manifesto] was dubbed “Resetting Ghana”, the National Democratic Congress (NDC) stipulated many economic policies for various sectors which makes up the country`s economy; from the Trade and Industry, Banking and Financial sector and Government Efficiency.
Below are the carefully selected major economic policies stated in the manifesto of the National Democratic Congress;
(1) The implementation of 24-hour economic policy:
The National Democratic Congress deems the 24-hour economy as the policy, which has the potency when implemented properly will quickly reduce the unemployment, which is being measured at 14.7% by the Ghana Statistical Service. Plus, the policy will improve Ghana`s tax revenue and correct the Balance of Payment deficit as a lot of production of goods and services will maximize.
“Implement a 24-hour economy strategy with three (3) shifts of eight (8) hours each to maximize productivity and efficiency, transform Ghana into an import substitution and export-led economy, enhance access to public services, and create more well-paying jobs for unemployed Ghanaians.”
(2) Abolishment of nuisance taxes:
Government of the day has introduce over 22 new taxes which includes the Betting tax, COVID-19 tax, and many other taxes which the leading opposition party believes that those taxes have only blessed the entire Ghanaian citizenry with nothing less than extreme economic hardship. Meanwhile, the next government will rather open the tax net.
“Simplify VAT collection, abolish e-levy and other burdensome taxes, and ensure fair and non-intrusive tax audits. Expand the tax net to cover other workers rather than increase taxes.”
(3) The country will benefit more from its natural resources:
The National Democratic Congress have indicated that, when given the mandate to form the next government, will implement policies which will position the country in securing much profit from the natural resources possessed by the country.
“We will seek to help Ghana benefit more from its finite natural resources and encourage indigenous Ghanaian businesses with the technology and capacity to operate their own productive mining concessions independently or in partnership. We will also resource the geological survey department and review the laws governing the extractive industry so that Ghana can increase its share and local participation in the exploitation of the nation`s natural resources.”
(4) Reform the banking sector:
There will be some form of reforms and restoration of revoked banking licenses of various banks in order to breathe in more life into the country`s banking sector after it was taken through a very harsh and destructive measures by the ruling government.
“Reform the Bank of Ghana and rejuvenate the almost collapsed banking and financial sector. As far as practicable, banking licenses that this Government unjustly cancelled will be restored.”
(5) Run a leanest government:
The next National Democratic Congress government will opt to administer the country with a few number of ministers in order to cut down the wastage of the public funds.
“Run the leanest but most efficient government under the fourth republic by appointing not more than 60 ministers and deputy ministers in our bid to cut down on government expenditure. We shall combine specific ministries and eliminate government agencies that duplicate each other.”