TUC lauds government’s macroeconomic performance, demands jobs, warns against IMF dictates and tax hikes

BY: Isaac Yeboah

The Trades Union Congress, Ghana (TUC) has praised the government for its macroeconomic achievements but demands a review of trade policies to focus on productivity.

The TUC also wants government to steer off IMF conditionalities on building the Ghanaian economy; it should rather plug up revenue gaps instead of raising taxes, saying the imposition of 35% tax on personal incomes of GHȻ10,000 and above is too high.

The Trades Union’s mixed reactions on the economy comes in a paper paper it presented to government after what it says was an extensive deliberation by its General Council and the presentation of the Mid-Year Fiscal Policy Review of the 2018 Budget Statement and Economic Policy to Parliament by the Minister for Finance, Ken Ofori-Atta, on Thursday, 19th July, 2018.

According to the TUC, it holds true a position of Vice President Dr. Mahamudu Bawumia that the attainment of macroeconomic targets that do not yield jobs for graduates and the youth to build their lives is pointless.

Related article: Full statement: Budget Review 2018

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The TUC had therefore expected to hear from the Finance Minister the number of decent jobs the government had created, however it was only served “achievements in macroeconomic management based on targets set by IMF.”

The TUC concludes thus:

“The improvement in macroeconomic performance in the past year and the successful implementation of social intervention programmes indicate that Ghana is gradually but surely finding the right path to economic growth and prosperity.

“The TUC welcomes the call for social partnership. We believe that a true partnership, characterized by mutual respect, can help address some of the intractable challenges confronting our country. The TUC is committed to working with government and other partners to make the partnership successful. We do not want to see IMF dictating to our government again.

“Ghanaians are more knowledgeable about the problems of Ghana than anyone else. Therefore, we are in the best position to offer and implement solutions that deliver us from these self-imposed challenges. The attitude of running to the IMF at the slightest opportunity only signals a lack of faith in our collective abilities to solve our problems. This attitude must change. We believe strongly that with a true social partnership among all stakeholders we can achieve the President's vision of Ghana Beyond Aid as soon as possible.”