• Short Summary

    OPENING A NEW SESSION OF PARLIAMENT IN ACCRA ON TUESDAY, PRESIDENT NKRUMAH ANNOUNCED THAT PRIVATE COMPANIES NEED NO LONGER RE-INVEST 60% OF THEIR PROFITS AFTER TAX.

  • Description

    OPENING A NEW SESSION OF PARLIAMENT IN ACCRA ON TUESDAY, PRESIDENT NKRUMAH ANNOUNCED THAT PRIVATE COMPANIES NEED NO LONGER RE-INVEST 60% OF THEIR PROFITS AFTER TAX.THE TWO-YEAR-OLD COMPULSORY SAVINGS SCHEME WAS ALSO ABOLISHED.

    OTHER IMPORTANT POINTS FROM THE PRESIDENT'S SPEECH: A FINANCIAL AMNESTY ENABLING GHANAIANS WITH INVESTMENTS ABROAD TO REPATRIATE THEM AND GHANA'S INTENTION TO START INTRODUCING THE DECIMAL SYSTEM BY JULY 1965.HE STRESSED THAT GHANA PROVIDED STABLE OPPORTUNITIES FOR PRIVATE INVESTORS IF THEY WERE "FAIR TO US".THE PRIVATE SECTOR WOULD CONTINUE TO PLAY A WELCOME ROLE IN THE ECONOMY.

    THE SPEECH WAS WELL RECEIVED BY MEMBERS - ESPECIALLY THE ABOLITION OF THE SAVINGS SCHEME, UNDER WHICH WAGE-EARNERS HAD TO SET ASIDE 5% OF THEIR EARNING AND SELF-EMPLOYED PERSONS 10%.

  • Tags

  • Data

    Film ID:
    VLVA8PF9S0YIWM2WP94W9Z6BNVIFX
    Media URN:
    VLVA8PF9S0YIWM2WP94W9Z6BNVIFX
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    17/10/1963
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:12:00
    Time in/Out:
    /
    Canister:
    N/A

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