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An economy where government is biggest employer is bound to fail – Economist

Economy 1024x571 1ik Government needs to reate an enabling environment for private sector to thrive - Tax expert

Tue, 4 Jan 2022 Source: 3news.com

A Tax Expert and an Economist, Dr. Alex Ampaabeng, has asked the government to, as a matter of urgency, create the enabling environment for the private sector to thrive in order to create sustainable jobs for the youth.

He stated that the government cannot be the biggest employer because any economy where the central authority is the largest employer is bound to fail.

Governments cannot do it all therefore, private individuals have to be empowered and be given the necessary incentives to create businesses and employ others, he said.

Speaking in an interview with Alfred Ocansey on the Sunrise show on 3FM Tuesday January 4, he said “Any economy where the government is the biggest employer, then the economy is in shambles.

“Government cannot, so the earlier we empower the private sector [the better]. Every successive government will be saying, private sector is the engine of growth, I think this phrase, we have overused it.

“What practical steps have we used to create that enabling environment for the private sector to thrive? Are loans coming? Are government funding opportunities there?

“Are the real drivers which will make somebody an entrepreneur and employ one or two or three people available? I think it is time for us to have a more sustainable way of creating employment for the youth. NABCO was a stopgap but I really don’t think Ghana’s employment can be solved with NABCO.”

Source: 3news.com