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NPP to introduce fiscal responsibility Act – Nana Addo

By CitiFMonline
NPP NPP to introduce fiscal responsibility Act – Nana Addo
AUG 8, 2016 LISTEN

Presidential nominee of the opposition New Patriotic Party (NPP), Nana Addo Dankwa Akufo Addo says if he wins the 2016 polls, his administration will introduce a fiscal responsibility Act to reduce government’s external borrowing.

He posited that the nation’s huge debt portfolio has constrained domestic banks to give loans to small scale industries to flourish.

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Nana Akufo Addo was addressing the 30th extraordinary general delegates Congress of the Association of Small Scale Industries in Tamale.

He assured the association of the next NPP administration’s commitment to place premium on small scale industries which he described as the engine of growth.

“We will encourage the private sector to take the burden of government and we will reposition small scale industries for local economic growth.”

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Nana Akufo Addo described as enormous challenges that have bedevilled small scale industries and said it is as a result of the President John Dramani Mahama led government’s incompetent management of the economy.

According to him, it is incontrovertible fact that Ghana’s economy is in bad shape and he used the International Monetary Fund’s (IMF) bailout as an eloquent testimony to his assertion.

NPP’s economic solutions
The main opposition leader said the persistent depreciation of the local currency is unacceptable and promised that his administration will stabilize the currency when the NPP is elected at the December 7 polls.”We will establish an industrial development fund as an omnibus fund to support local industries,” Nana Addo promised.

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“We will establish an industrial development fund as an omnibus fund to support local industries,” Nana Addo promised.He said the central bank will be strengthened to take oversight responsibility of monitoring and supervising

He said the central bank will be strengthened to take oversight responsibility of monitoring and supervising micro-finance institutions.Nana Akufo Addo revealed that the multiplicity of taxes imposed on small scale enterprises coupled with high cost of rent and utilities will be abolished under her watch.

Nana Akufo Addo revealed that the multiplicity of taxes imposed on small scale enterprises coupled with high cost of rent and utilities will be abolished under her watch.

“All taxes and levies imposed on businesses by the Metropolitan, Municipal, and District Assemblies will be revised to restore macro-economic stability.”

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“We will facilitate access to land to establish multi-purpose powers in all the districts to support the private sector.”

Nana Akufo Addo promised that all Metropolitan, Municipal and District assemblies will develop modern markets to enhance domestic trade and that a new legislation will be introduced to sustain small scale industries.

He said a comprehensive program will be introduced to improve manpower and skills training as means of reducing youth employment.Nana Akufo Addo bemoaned what he referred to as high corruption at the nation’s Ports leading to nation wrecking and gave assurance that said a practice will be a thing of the past should the electorate give him the mandate to govern.

Nana Akufo Addo bemoaned what he referred to as high corruption at the nation’s Ports leading to nation wrecking and gave assurance that said a practice will be a thing of the past should the electorate give him the mandate to govern.He said a national

He said a national database will be established to stabilize the economy and that a three prong approach will be adopted to facilitate electronic payment in the banks.

Nana Akufo Addo’s team include his thrice trusted running mate, Dr. Alhaji Mahamadu Bawumia, a former minister for Trade and Industry, Messrs Alan Kwadwo Kyeremanteng, the NPP national women’s Organizer, Otiko Afisa Djabah, Hon. Ursula Owusu Akufo, Member of Parliament for Ablekuma West, a former Northern Regional Minister, Prince Imoro Andani, the NPP national Nasara coordinator, Kamaldeen Abdulai, Nana Addo’s spokesperson, Mustapha Hamid, campaign Aide, Iddrisu Musah Superior among others.

By: Abdul Karim Naatogmah/citifmonline.com/Ghana

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