- 5 Marks
PT – April 2022 – L2 – Q1b – Overview of the Ghanaian Tax System and Fiscal Policy
Justify the use of public debt as an alternative to taxation in Ghana's development agenda.
Question
b) The development agenda of a developing country like Ghana can only be brought to reality through the availability of funds. The two (2) main sources of government revenue are taxation and debt. In spite of the fact that taxation remains the most reliable source of government revenue for government plans, projects and programmes, it is said to be limited in its role and function in the economy.
Required:
Justify the use of public debt as an alternative to taxation.
(5 marks)
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