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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***barred word*** post. Deloitte itself is facing challenges. The International Group suspended the Ghana Office sacked the Ghanaian Manager for compromising accounts of NIB. NIB could not publish its 2016 Annual Account and could not hold an Annual General Meeting. Where are the holes??? A question about how Electricity Tariffs are being lowered? Simple. As Gas resources replace light crude oil generation costs will reduce 13% is conservative estimate. It is liely to be 25% reduction by December 2018
EIII, GHANA POLITICS! ONE QUESTION IS EQUALS TO 'PUNCHES HOLES'? THE ONLY QUESTION DELLOIT ASKED WAS WHETHER THE FINABCE MINISTER WILL BE ABLE TO REDUCE BILLS ON EC WHEN GOVERNMENT OWES THE SERVICE PROVIDERS? HMMMMMM, GHANA!
Akuffo Addo says he is a magician so I don't think anybody should ever be worried. After all Voodoonomics, cocainomics,Bondnomics can be heavily relied on in times of trouble. By the way Ofori-Ata should by now know the difference between hyping figures to corn unsuspecting public for Mfund and Epack at Databank and managing the public purse prudently.
These people are doers...wait and see how they implement their policies.Big brain is working!
KOFI THE MINISTER OF FINANCE AND THE NPP GOVERNMENT WILL SURPRISE AND SHOCK YOU AND YOUR ONAPO PUU TUIIIIIIIII JDM, NDC PARTY. THE BUDGET IS PURELY PROGRAMMES AND ACTIVITIES FOR THE YEAR 2018 PERIOD.
it is a hollow budget indeed