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General News of Tuesday, July 9, 2019
Source: www.ghanaweb.com
2019-07-09
Godfred Bokpin, Professor at the Business School of the University of Ghana
Ghana was ranked twenty-ninth (29th) out of 41 African countries according to the report's Commitment to Reduce Inequality (IRC) index.
OXFAM's report ranked Ghana among the worst performers in investment, health and social protection.
In terms of social protection, Ghana ranks 12th in social spending, after countries such as Cape Verde, Côte d'Ivoire, Burkina Faso, Mali, Niger and Mauritania.
The reports from the Commitment to Reduce Inequalities Index (CRI) show that Ghana is one of the worst countries in the sub-region due, among other things, to the government's refusal to invest more. of funds in health care, education and social protection of the most vulnerable of the country. .
According to Godfred Bokpin, a professor at the Business School of the University of Ghana, the inequality is rising and only benefits a very small number of people while a number of people they are enriching in a fantastic way in Africa.
He further noted that inequalities were the result of rigged economic systems that allowed a small minority to accumulate huge fortunes through political capture, monopoly, cronyism and inheritance.
"Growing inequality is a threat to social cohesion, it is a threat to our democracy … inequality is at the level of the crisis in Africa," he said.
According to reports from the IRC index, Ghana ranks first among progressive taxes among countries such as Togo and Benin in West Africa. This means that the tax policies of these countries are comparatively progressive compared to other West African countries.
The Inequality Report also provided recommendations to the government, which, when they are exploited, will reduce the gap between rich and poor, as well as inequality.
Among them was the fact that
Progressive taxation should be structured so as to pay particular attention to the tax compliance of high net worth individuals, seek to tax the hidden wealth off the coast, strengthen the protection of workers' rights and adopt policies favoring labor markets. more open.
Professor Bokpin also said that to eliminate inequalities, the government needed to invest more in health, education and social protection.
However, he called on the government to be proactive and to intervene directly so that growth really benefits the poor.
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