Paying contractors arrears boost economy – Duffour to Ofori-Atta

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Dr. Kwabena Duffuor, a flagbearer candidate for the opposition National Democratic Congress (NDC), claims he was serious about paying debts to contractors and other people who had worked for the government when he was in power.

He said that regular arrears payments significantly aided the economy’s expansion.

“We never joked with expenditure. I was not making payments when there was not enough money. But as soon as money hits government account, I paid off people who government owed.  We managed government bill very well. I never joked with arrears. I never denied contractors their money. I ensured I paid regularly in bit until all the debt is cleared,” Dr Kwabena Duffuor said on Ghana Kasa show on Kasapa 102.5FM/Agoo TV on Monday.

“When we paid contractors, their work also advanced, and we also got the taxes,” he said.

You take taxes with your left hand and pay arrears with your right.

That is the proper method.

How can a contractor take care of the workers if he completes a job for GHC10m and you refuse to pay him?

He doesn’t get the money; the workers do.

You deduct the tax when he pays them as well.

As a result, many taxes are paid and the economy grows quickly.

Contractors’ firms will fail if the government does not pay them, and there won’t be enough revenue to fund the nation’s construction.

Source: Ghanatodayonline.com

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