General News of 2014-07-04

Tariff hikes show govt's numbness to plight of Ghanaians - TUC

The Trades Union Congress says recent hikes in electricity and water tariffs is a manifestation of government's insensitivity to the economic hardship Ghanaians are facing.

In a release issued by the TUC on Thursday, the Union noted that "the gloomy economic situation and the underlying governance challenges in the country" took centre stage at deliberations of the General Council of the Trades Union Congress on June 26 and 27, 2014.

The General Council is TUC's second highest decision-making body.

"What is even more surprising is the 17.5 percent VAT on the so-called non-core banking services which was to be implemented from July, 2014. We have taken note of the indefinite suspension of the VAT on financial services. Contrary to messages and assurances by government, it was clear that the cost of banking was going to be higher for the general banking public", TUC said in the release.

The TUC is recommending that government should consider raising taxes on the super profits of the banks and other financial institutions instead of charging VAT on banking services.

The TUC also maintained its call on government to subsidise the cost of utilities in the country, saying the current pricing formula for fuel, electricity and water punishes consumers even though the National Petroleum Authority (NPA) insists Ghanaians must to pay realistic prices for petroleum products.

Source: myjoyonline
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