National Democratic Congress (NDC) flag bearer John Dramani Mahama said tax incentives would be given to businesses that support his proposed 24-hour economic policy.
The proposal is part of measures being taken to boost the local economy through employment opportunities for young people.
He added: “Companies will be encouraged to sign up because they will be offered tax incentives, increased security and lower electricity prices after peak hours.”
“Special meters will be used to provide what is known as hourly tariffs to provide cheap electricity to such businesses between the hours of 10am and 6am.”
For many years, unemployment has been one of the major economic setbacks.
According to 2017 data from the Institute of Statistics, Social and Economic Studies (ISSER) at the University of Ghana, only 10% of graduates were employed one year after leaving school.
The study also found that many of them could take up to 10 years to secure employment.
The Ghana Statistics Authority’s report for the third quarter of 2022 puts the number of unemployed people in all three quarters of this year at 1.7 million.
The current NPP government is already considering a vibrant night economy as a policy to reduce unemployment.
However, John Mahama, reacting to the policies announced in the 2024 Budget, said: This is what he calls the night economy. ”
However, the former president stressed that his policy statement goes beyond the government’s proposals focused on promoting tourism.
He said the NDC’s proposal includes the operation of three daily shifts by industrial and commercial entities.
“The enhanced security required for the 24-hour economy will make the city safer and, as a result, will boost tourism. This 24-hour economic activity will be voluntary,” Mahama said.
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