Budget silent on jobs - MP

Richard Quashigah Tie Keta MP, Richard Quarshigah

Sat, 11 Mar 2017 Source: thbftonline.com

The Member of Parliament for Keta, Richard Quarshigah has stated that the budget statement failed to address unemployment issues given the alarming rate of joblessness in the country.

According to him, the budget is “scary and if young people understand the nitty gritty of the budget, they will collapse.”

He also added that there was no concrete plan to address unemployment, maintaining that it was very worrying and reckons it cannot be an “asempa” budget-good news budget as been speculated by members of the ruling party.

Hon. Quarshigah also indicated that government’s policy initiatives such planting for food and jobs, I-district 1-factory, 1-village 1-dam does not present a comprehensive job creation avenues for the youth and urged government to properly streamline it.

He made these remarks when he contributed to the debate of the budget on the floor of the House.

Unemployment among the youth remains, a survey conducted by the Institute of Economic Affairs, (IEA) last year identified unemployment as the foremost problem confronting the majority of Ghanaians today.

According to the survey, urban dwellers, females, and the majority of people living in the Western, Eastern and Central regions, identified unemployment as their biggest problem in Ghana.

Statistics also reveal that about 48percent of youth are unemployed mostly living in the capital city.

Finance Minister, Ken Ofori-Atta told Parliament last Thursday, that policy initiatives that are designed to help improve the business environment instill fiscal discipline and promote investment in critical infrastructure especially in rural and deprived communities.

To further reenergize the private sector, the Finance Minister also announced tax incentives such as the abolishment of 1 percent Special Import Levy, abolish the 17.5percent VAT/NHIL on financial services among others.

In government’s quest to build an entrepreneurial nation, the National Entrepreneurship and Innovation Plan (NEIP) is a flagship initiative which will be the primary vehicle for providing an integrated, support for early-stage (start-ups and small) businesses, focusing on the provision of business development services, business incubators, and funding for youth-owned businesses.

The NEIP will enable qualified new businesses to emerge and give them the space to grow, position them to attract financing, and provide business development support services.

The programme will assist these businesses to secure markets during the critical formative years, and tap into a wide supply chain and network during their growth years.

Source: thbftonline.com
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