Economist and Director of Operations at Dalex Finance, Joe Jackson, has expressed his strong belief in the feasibility of Mahama’s 24-hour economy policy.
Jackson emphasized that the policy’s success hinges on the government’s ability to foster a conducive business environment. He highlighted the need for accessible financing and reduced tax burdens to support businesses.
“There is no access to finance and businesses are overburdened with taxes. Where is the money to lend to these businesses we want to create? This is an excellent argument, but let’s not focus so much on one side. This is really a multifaceted issue that has to be looked at holistically. Markets are important. There must be competitive prices for our inputs, otherwise, whatever you do, if I am going to produce at a loss, I am not about to hire a second shift. No way. I am not about to work in the night. High taxes should be made simpler and easier. Let’s think about access to finance. But we have to agree that it can be done. Anybody who says the 24-hour concept cannot happen, it can be done.”
He advocated for simplifying and streamlining the tax system while improving access to finance.
Jackson’s comments were made on The Big Issue Show on Citi TV regarding Mahama’s 24-hour economy policy.
John Mahama, the flagbearer of the National Democratic Congress, pledged to implement a 24-hour economy if elected during his campaign tour in the Bono region.
This promise has sparked debate, particularly between members of the National Democratic Congress and the New Patriotic Party.
In contrast, Dr. Mahamudu Bawumia, the New Patriotic Party’s flagbearer, maintains that the concept of a 24-hour economy is already present in various sectors of the economy and is therefore not a novel idea.