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Download PDF - Institute of Economic Affairs Ghana

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HIV/AIDS. Indeed, about a week ago Dr. Asare, the Chief Psychiatrist<br />

at the Mental Hospital gave an interview to the VOA in which he talked<br />

about the monumental levels to which drug use has reached in our country.<br />

And indeed, he also went on to talk about his concern about the effects <strong>of</strong><br />

drug use on our human resource base. Atta Mills’ government will cooperate<br />

with the appropriate agencies, both local and foreign, to stamp out the<br />

drug trade. As I said not too long ago, Atta Mills will not allow the drug<br />

barons to make <strong>Ghana</strong> a subsidiary <strong>of</strong> their activities. <strong>Ghana</strong> is a signatory<br />

to the UN laws on narcotics control especially the part that deals with seizure<br />

and forfeiture <strong>of</strong> assets <strong>of</strong> those convicted <strong>of</strong> dealing in narcotics. We<br />

shall faithfully and diligently follow our obligations, honour our obligations<br />

under these laws. And I can assure you that Atta Mills will be in no<br />

hurry to arrange for the exchange <strong>of</strong> these prisoners or their transfers from<br />

foreign jails where they are justifiably languishing in <strong>Ghana</strong>ian prisons.<br />

Distinguished ladies and gentlemen, I am sure you will want to have an<br />

idea as to some <strong>of</strong> the initiatives that we want to take when it comes to<br />

the economy, which obviously is what the whole thing is about. We will<br />

adopt a set <strong>of</strong> policies, which will ensure high economic growth. We will<br />

do this by anchoring it in an increase in domestic savings to support a high<br />

volume <strong>of</strong> investment in infrastructure. Our emphasis on infrastructure<br />

is deliberate. By so doing we will be facilitating industrial development,<br />

which will enable us to create jobs for our people. We will not be unmindful<br />

<strong>of</strong> the need to have macroeconomic stability. But we are not going to<br />

have macroeconomic stability for its own sake. We will want an environment<br />

that gives us the fiscal space to invest meaningfully in agriculture, in<br />

education, in housing, in health, among others.<br />

We shall also review the exemption scheme under our tax laws and also<br />

put in place measures that will enhance revenue collection. But ladies and<br />

gentlemen, we will also not hesitate in cutting out extravagance, filth and<br />

pr<strong>of</strong>ligate expenditure in government.<br />

Now when it comes to agriculture, that, as I said, is going to be the backbone.<br />

A nation that cannot feed itself is a nation in distress. We have a<br />

situation where the average <strong>Ghana</strong>ian spends almost 70% <strong>of</strong> his income on<br />

food. Now with the rising prices he may be spending 80% <strong>of</strong> his income<br />

5

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