The Deputy General Secretary of the All People’s Congress (APC) Martin Kofi Serwonu has stated that the party is aimed at promoting the welfare of Ghanaian workers, vowing to increase the minimum wage from ¢18 to ¢150 and implement a bi-weekly salary policy if elected.
This move aims to boost the earnings and family income of low-wage workers, potentially lifting some families out of poverty.
The proposed minimum wage hike would be a substantial increase, providing relief to workers struggling to make ends meet. Many Ghanaians work multiple jobs to support their families, and this increase could help alleviate financial stress. The APC’s commitment to supporting low-wage workers has been well-received by labor unions and advocacy groups.
However, it’s essential to consider the potential effects on employment. Research suggests that raising the minimum wage can lead to job losses, particularly among low-wage workers. Some businesses may struggle to absorb the added costs, potentially leading to layoffs or reduced hiring. The APC must carefully weigh these concerns and consider strategies to mitigate potential job losses.
On the other hand, higher wages could lift families out of poverty, improving overall well-being. Increased consumer spending power could stimulate economic growth, as workers would have more disposable income to invest in their communities.
Implementing the proposed policies would require careful planning. Gradual phasing could help mitigate potential job losses. Indexing the minimum wage to inflation or median hourly wages could ensure its purchasing power. Companion policies, such as training programs or tax incentives, may be necessary to support businesses adapting to the changes.
The APC Deputy General Secretary’s proposal aligns with the party’s broader economic vision: empowering Ghanaian workers and fostering sustainable growth and perhaps other key contributors in their manifesto, which he said the party was driving at will make Ghana a manufacturing hub, expressing his optimism that, the party’s seven major policies, which includes, Change of Mindset, Ghana and Ghanaian first, Data base system, national development plan, twenty-four-hour (24hr) economy and many others. The APC aims to create an environment where businesses thrive, and workers enjoy fair compensation. This pledge demonstrates the party’s commitment to social and economic development.
Labor unions and advocacy groups have welcomed the APC’s proposal.
The government of the APC will pay significant attention to graduate unemployment, which has become a concern for the youth when they win power come December 7 polls.
“We shall create youth employment center in every constituency. This will help decentralize the mode of application for jobs and cut costs. All what you have to do is just to walk into the office with your certificate and area of qualification and you will be offered and employment,” he stated.
In conclusion, he said the APC will, through one of its policies, promote the patronage of made in Ghana goods, which in stride will promote local businesses and boost the Ghanaian economy.
