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Deloitte Punches Holes In 2018 Budget Policies
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Accounting and tax advisory firm, Deloitte says government may have some challenges in fully implementing some policies outlined in the 2018 budget.

Deloitte, for instance, criticized the proposed cut in electricity tariffs, adding that it is unclear how government plans to fund the initiative since it is already indebted to the power producers due to subsidies on electricity tariffs.

From next year, residential and non-residential electricity consumers will enjoy 13 percent reduction in their tariffs, the Finance Minister Ken Ofori-Atta said.

During his second budget presentation, he disclosed that government is working on a number of interventions to relieve consumers.

“If government recommendations to Public Utility and Regulatory Commission (PURC) are accepted, consumers will be expected to benefit from reductions in electricity tariffs,” he said.

But the Deloitte its analysis of government budget statement and economic policy for next year said this will be hard to do.

On the One District One factory policy, Deloitte was of the view that, for the initiative to be successful there must be a conscious effort to promote made in Ghana goods to create demand for these factories.

On the revenue measures, Deloitte maintained that some of these tax policies could also struggle, and even bring some hardship to businesses.
Source: myjoyonline.com

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