{"id":757992,"date":"2019-12-04T12:00:16","date_gmt":"2019-12-04T12:00:16","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/12\/04\/establish-labour-bank-tuc\/"},"modified":"2019-12-04T12:00:16","modified_gmt":"2019-12-04T12:00:16","slug":"establish-labour-bank-tuc","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/12\/04\/establish-labour-bank-tuc\/","title":{"rendered":"Establish Labour Bank \u2013 TUC"},"content":{"rendered":"

<\/p>\n

\n

Dr Anthony Yaw Baah <\/strong><\/p>\n

THE
\nTRADES Union Congress (TUC) has proposed the establishment of a Labour Bank
\nthat will support Ghanaian workers with the acquisition of decent housing and
\nsoft loans among other welfare issues.<\/p>\n

Dr
\nAnthony Yaw Baah, Secretary-General of TUC, who made the appeal, said his
\noutfit was still undertaking feasibility studies and had already dispatched two
\npersons to Japan to understudy how that country implemented its Labour Bank
\nmodel.<\/p>\n

He
\nwas speaking at a forum jointly organised by the TUC, GEA and AGI, to discuss
\nthe 2020 Budget Statement and Economic Policy Statement and recommend a
\nbipartite position as well as see how best they could approach government to
\nfactor their concerns into the budget implementation.<\/p>\n

The
\npartners are expected to meet the Finance Minister, Ken Ofori-Atta, early next
\nyear at the Social Partnership Council platform to make known their concerns.<\/p>\n

He
\nsaid the TUC would have further engagements with the Japanese Mission, Ministry
\nof Foreign Affairs and Regional Integration and Finance Ministry, as well as
\nthe Ghana Employers Association (GEA) and the Association of Ghana Industry
\n(AGI) towards the operation of the bank.<\/p>\n

Currently,
\nthere is a labour bank in Ghana providing loans and other welfare services for
\npersonnel of the Ghana Armed Forces.<\/p>\n

Mary
\nKarimu, Deputy Director of Labour Research and Policy Institute of the TUC,
\nwhile making a presentation on TUC\u2019s observations on the Budget Statement,
\ncommended government for the proposal to establish a National Development Bank
\nand the decision not to roll out new taxes.<\/p>\n

The
\nTUC said the increase in fuel prices and utility tariffs had eroded the economic
\ngains registered by government, hence the inability of majority of Ghanaians to
\nexperience any impact on their lives.<\/p>\n

The
\nunion also expressed disquiet over the high lending rate which was stifling
\nbusinesses and urged government to find innovative ways to reduce it to the
\nbarest minimum.<\/p>\n

It
\ncited, an instance, where government directed the Consolidated Banks to charge
\nonly 11.6 per cent interest rate on loans, insisting that it was possible to
\nbring down the interest rate from the current figure of 25 per cent to a single
\ndigit like what pertains in Cote d\u2019Ivoire and Burkina Faso.<\/p>\n

The
\nTUC expressed concerns about the over-liberalized trade policy allowing dumping
\nof cheap foreign products on the local markets and thus, called for controlled
\nmeasures to protect the local industries,<\/p>\n

More
\nso, the union said the 50 per cent reduction of the benchmark values had not
\nresulted in reduction of prices for goods and services, but rather benefited
\nimporters at the detriment of the general populace.<\/p>\n

It
\nurged government to re-examine the tax exemption regime for multinational
\ncompanies operating in the country and requested that more stakeholder
\nconsultation is needed for the new Tax Exemption Policy Draft Document to make
\nit more holistic and relevant.<\/p>\n

The
\nTUC disagreed with government\u2019s decision to export specialized nurses to
\nBarbados and other foreign countries and asked whether the nation had surplus
\nnurses that warranted the export. <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Dr Anthony Yaw Baah THE TRADES Union Congress (TUC) has proposed the establishment of a Labour Bank that will support Ghanaian workers with the acquisition of decent housing and soft loans among other welfare issues. Dr Anthony Yaw Baah, Secretary-General of TUC, who made the appeal, said his outfit was still undertaking feasibility studies and […]<\/p>\n","protected":false},"author":1,"featured_media":757993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-757992","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nEstablish Labour Bank \u2013 TUC - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/12\/04\/establish-labour-bank-tuc\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Establish Labour Bank \u2013 TUC - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Dr Anthony Yaw Baah THE TRADES Union Congress (TUC) has proposed the establishment of a Labour Bank that will support Ghanaian workers with the acquisition of decent housing and soft loans among other welfare issues. 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