{"id":259687,"date":"2016-10-19T13:06:22","date_gmt":"2016-10-19T13:06:22","guid":{"rendered":"http:\/\/citifmonline.com\/?p=259687"},"modified":"2016-10-19T13:06:22","modified_gmt":"2016-10-19T13:06:22","slug":"npps-economic-proposals-could-cost-ghc27bn-annually-veep","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=259687","title":{"rendered":"NPP’s economic proposals could cost GHc27bn annually – Veep"},"content":{"rendered":"

Economic Proposals in the New Patriotic Party (NPP) manifesto could leave Ghana with lost revenue and increased expenditure annually amounting to about GHc 27 billion, Vice President Kwesi Amissah Arthur has said.<\/p>\n

Addressing students at the Cape Coast Polytechnic, the Vice President indicated that eight out of the NPP\u2019s proposals on the economy in the NPP’s manifesto are on revenue reduction and would cost the nation billions.<\/p>\n

[contextly_sidebar id=”0wZdWDdAVIV8xsrPFO3l2vLsf0f5BmxO”]\u201cIn the manifesto that they have published, they have put in about 63 proposals. Eight of them are revenue proposal in which they will reduce revenue,” he said.<\/p>\n

“When I calculate the cost and the revenue loss that their manifesto proposes, I get something like GHc 6.2 billion if they were running the government this year [2016] from the reduction in taxes and so on.\u201d<\/p>\n

The Veep also noted that \u201cin addition, they have also introduced GHc 21 billion of new expenditure.\u201d<\/p>\n

\u201cWith the loss of revenue and the increase in expenditure, we are talking about an additional GHc 27 billion,\u201d he added.<\/p>\n

NPP’s shift from taxation to production<\/strong><\/p>\n

The NPP’s economic strategy is anchored on a shift from taxation to production<\/a><\/strong><\/span> according to its running mate, Dr. Mahamudu Bawumia.<\/p>\n

At the NPP’s 2016 manifesto launch, Dr. Bawumia promised that an NPP government would lessen and abolish the tax burden on a number of sectors ranging from the ECOWAS common external tariff to levies on head porters, otherwise known as ‘Kayayei’.<\/p>\n

Dr. Bawumia blamed the mismanagement of the economy under this John Mahama led National Democratic Congress government for the\u00a0increase in taxes on virtually everything taxable.<\/p>\n

\"Dr.<\/a>
Dr. Mahamadu Bawumia<\/figcaption><\/figure>\n

“Taxes were imposed on even on condoms and cutlasses,\u201d The NPP running mate noted.<\/p>\n

Mentioning\u00a0some of the taxes the party intends to reduce or scrap, he said corporate tax would be reduced from 25 percent to 20 percent.\u00a0He also said an NPP government would\u00a0remove import duties on raw materials and machinery from production within the contest of the ECOWAS common external tariff, along with a scrapping of the special import levy.<\/p>\n

To accompany the various tax scraps and reductions, Dr. Bawumia assured that the NPP would \u201c introduce tax incentives for businesses that hire fresh graduates from schools and we are going to reduce the VAT for micro and small enterprises from the 17.5 percent\u00a0 to the 3 percent flat rate.\u201d<\/p>\n

–<\/p>\n

Follow the hashtag #GhElections<\/strong> on Social Media for election related stories<\/em><\/p>\n

By: Delali Adogla-Bessa\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"

Economic Proposals in the New Patriotic Party (NPP) manifesto could leave Ghana with lost revenue and increased expenditure annually amounting to about GHc 27 billion, Vice President Kwesi Amissah Arthur has said. Addressing students at the Cape Coast Polytechnic, the Vice President indicated that eight out of the NPP\u2019s proposals on the economy in the […]<\/p>\n","protected":false},"author":14,"featured_media":188923,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[10,11],"tags":[389,2356,3,11731,129,56,11909],"class_list":["post-259687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-slider-1","category-top-stories","tag-bawumia","tag-ghana-elections","tag-ghana-news","tag-kwesi-amissah-arthur","tag-ndc","tag-npp","tag-npp-manifesto"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/259687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=259687"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/259687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/188923"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=259687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=259687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=259687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}