General News of Saturday, 31 March 2018
Member of Parliament for Bolga Central Isaac Adongo has a simple advice for government to stem the tide of borrowing- the government should organize a refresher course for him and his ranking member colleague at Peduase to take the government team through some schooling on the management of the economy.
He was speaking on the floor of Parliament last week Friday.
After a bout of criticism of the government over “high rising debt” and “excessive borrowing”, the Bolga Central lawmaker said he had a solution to all what he has outlined.
He berated the Finance minister Ken Ofori-Atta for his borrowing and style of raising bonds, mocking “Samurai and Panda” bonds will cripple the economy, MYNEWSGH.com observed.
On taxes, he said the government was clearly confused or had no revenue-making plans:
“We are running a fiscal regime that reduces taxes on real estate sales, but imposes an import VAT on people who import concrete mixers for masons to make their money.” He said.
“Instead of reducing taxes on imports of raw materials in order to boost production, we are rather taxing day-old chicks so that even when these day-old chicks are crying wiii wiiii we are still imposing an import tax on them” he added.
He cautioned the Finance Minister not to run after Nigeria and Kenya as Banks are not collapsing in those countries, neither are importers and exporters crying in those countries.
“Mr Speaker, it is quite clear, that this government has lost the track, We are at a very dizzy height of fiscal incompetence and if we don’t take care, we will continue to borrow and borrow and borrow.”
And the advice:
“Mr Speaker, my advice, and especially listening to my ranking member, and the fiscal indiscipline that is about to take place, my advice is that I will recommend to His Excellency the President and the Vice President to immediately convene a refresher course at Peduase. My good friend, my ranking member and myself are willing to come and teach you how to raise money and manage the economy.”