Tax reduction the answer, says Biti

Government has been urged to consider tax cuts on order to stimulate economic activity and stem the tide of depression.

Former finance minister Tendai Biti said that his successor Patrick Chinamasa had against global trends, embarked on citizens.

He said a cursory look at the 2015 budget shows that it is entered with a plethora of taxes and duties including duty on mobile telephone airtime.

Biti said the government is doing the opposite of what this economy is crying out for and they have increased levies on everything that they are importing including motor vehicles, sugar, perfumes and all sort of things.

He said it is very inane for anyone to argue that they are protecting local industry or manufactures because there is nothing to protect.

He called for a robust approach to negotiations with multi-lateral institutions.