GIVE PEOPLE POWER TO AFFORD THE HIGH COST OF LIVING.
24th February, 2024
It is now evident that it is practically impossible for the new dawn administration to REDUCE the high cost of living in our Country. A modern economy grows when people spend money.
To provide relief, President Hakainde’s new dawn Government must give ordinary Zambians and companies more SPENDING POWER TO AFFORD the record high cost of living and doing business.
Solutions, In Part
1. Flood the economy with money. Reduce PAYE and other individual related taxes. (RB’s Economics).
2. Lower businesses related taxes and statutory obligations.
3. Scrap off selected council levies and combine some of them.
4. Give incentives to local small and medium Zambian companies who have employed fellow Zambians. No local business should be closed for failing to pay taxes or council levies.
5. Remove tax holidays for foreign companies.
6. Lower company tax for all companies both local and foreign to increase tax compliance.
7. Introduce new laws against transfer pricing and review all the existing tax treaties with tax haven countries.
8. A solid, clear and aggressive approach to move our economy from foreign dependency to local economic development (LED) in all sectors.
We cannot surrender ourselves to the analogy that it is “happening everywhere “and do nothing. Our leaders, Our Government must respond.
GPZ, Our People First.
Silavwe Jackson
*President*
*GPZ.*
I agree with Silavwe on this.now this is sensible opposition. His suggestions are solid.
I agree with him too. For once Mr. Silavwe has spoken sense. We need to to relook at our taxation systems for both employees and companies. I think the current PAYE is too high and the highest band should not be more than 25%. VAT as well should not be more than 10%. These measures would stimulate more spending in the economy and help grow it. And as he has mentioned, SME should be supported as much as possible to allow them to grow and create jobs for our people and earn more forex once they expand in to exports. This is good for a change for an opposition to think practical ideas which can really make a change in people’s likes and the economy at large.