Monday, 16 December 2013 01:23

Ex-US President, Bush advice Nigerians on corruption and tax policy

Written by Administrator
former President George Bush former President George Bush abc

Former president of the United States of America, Mr George Bush who spoke at Access Bank Leadership Conference in Lagos was the guest speaker.  The theme of the yearly Access Bank conference ‘Embracing sustainable leadership’ was held in Lagos, Nigeria on Thursday. The former president spoke to the crowd of over 3, 000 delegates and Nigerians on the pressing issues of corruption elimination and tax incentives for sustainable economic growth.

 

Bush said, “As president of the most powerful country in the world, I had cause to sanction senior office holders on account of corruption and they faced justice. All corrupt public officers must be brought to justice, however powerful. Nigerian leaders have to be bold against corruption, as a leader you must surround yourself with people who know better than you do and you must trust their decisions.

 

This principle helped me succeed as a president, particularly in taking far reaching decisions during the economic crisis in the United States and the war against terror in Iraq and Afghanistan executed during his tenure. You have to respect your advisers because they know what you don’t know.”

 

The former president emphasized on clarity of purpose and addenda. His words:  “to have clear rules that are enforceable without prejudice and also hold government accountable to the people so that it can assure that the people’s money would be protected by the law.”

 

On tax inventive, Bush said, “I believe it is important to make sure that the role of the public sector versus private sector is balanced. When I was president, I felt it was important to invigorate the private sector. In my country, most of the jobs were created by small businesses. Many small businesses were incorporated as limited partnerships or entities that pay individual tax rates. Therefore, dropping individual income tax rates will increase private sector growth.

 

Bush recommended an incentive driven economic policy and said, “I think it is important not to over tax capital investors but to reward them.”