Feature Article of Saturday, 27 October 2012
Columnist: Thompson, Kofi
- To Make Ghana Prosperous
By Kofi Thompson
Ghana's middle classes are incredibly hard-working and dynamic.
Across the country, the small and medium scale enterprises they own and run, employ thousands of ordinary people - whose wages enable them support their families.
Our dynamic middle classes deserve exemplary leadership from our political class.
That is why the time has come for Ghana's politicians to be less confrontational and start working closer together - in order to make the enterprise Ghana a more efficient and competitive African nation-state.
It is only when our country is truly competitive and efficient that it can become prosperous.
Why should Ghana not have the lowest corporate tax rates in Africa, for example, I ask?
And what catastrophe would befall our nation, if we abolished personal income tax, to put more money in the pockets of workers? Would that not be incentive enough to boost productivity in Ghana, I ask?
Will cross-party cooperation not provide the political will to cut down endless bureaucratic red tape and remove the web of restrictive regulation that no longer serve any purpose in today's competitive world?
If Ghana's politicians worked closer together to further the national interest, could all the above not be done in record time, dear reader?
And would many companies not move their African headquarters here to take advantage of such a business-friendly climate?
If taxes on businesses were the lowest in Africa, for example, surely that will make the many informal sector business entities that are currently not paying their fair share of taxes, feel obliged to do so?
It simply does not make sense for those hard-working private individuals who contribute so much to wealth-creation in Ghana, to be constantly hampered by the public-sector's inefficiencies.
If our political class worked closer to create a more conducive climate for the private sector, Ghana will grow at a much quicker pace - and the real economy will expand faster to create more jobs for the younger generation: who hold the key to Ghana's future. A word to the wise...
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