Ghanaian companies will be in position to offer jobs to
fresh graduates if government pursues a policy of establishing an employment
tax credit scheme for businesses.
That is according to economist and presidential running
mate of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia.
He says whilst providing incentives to companies, the
burden of high taxation on businesses should also be revised.
“Ghana should focus on providing tax incentives for
increasing production and generating employment,” he said. “In the process,
revenue can be raised from corporate taxes…what we should not allow to happen
is the desire to generate revenue to kill businesses and cause unemployment.”
Dr. Bawumia was delivering a public lecture in Kumasi on
the theme: “High Graduate Unemployment and Employment Embargo, What is the Solution?”
It was organized by the KNUST Economic Students Association.
He has proposed that companies willing to employ fresh
graduates should be given tax incentives and rebates.
“To demonstrate our focus on productivity and jobs for
the youth in Ghana, particularly graduates, we should introduce employment tax
credit scheme to provide incentive for companies that employ fresh graduates,” he
said.
Dr. Bawumia believes the value chain of Ghana’s housing
market holds a great potential to solving the high graduate unemployment by
specifically tackling the mortgage market.
He however said one of the biggest threats to battling the
country’s unemployment is high borrowing and debt non-sustainability, which he
says leads to a slum in the economy.
He observed an operational national identification and
good addressing system will help drive growth and build new businesses that
will employ graduates.
Story by Kofi Adu Domfeh
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