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2016 SUPPLEMENTARY BUDGET

 

Kwaku Kwarteng, MP

July 25, 2016
25th July 2016


1. At the beginning of 2016, govt sought parliamentary approval to spend some GH¢50 billion on govt business. That was granted.


2. On 25th July 2016, govt went to Parliament to say that they are broke, and things are not going well so they need approval to do the following:


a. Reduce pension payments to old men and women, and reduce gratuities and social security payments by GH¢293 million.


b. Reduce capital expenditure by some GH¢284 million. That is to say, govt is seeking to reduce spending on roads, schools, hospitals, and other infrastructure projects by GH¢284 million.


c. Reduce spending on the provision of goods and services to Ghanaians by GH¢410 million. That is to say, money to buy chalk for basic schools, sanitation services, etc will all be slashed by GH¢410 million.


d. Reduce transfer into the National Health Fund by GH¢19.6 million.


3. After reducing all these services to Ghanaians, govt says they will still have problems unless Parliament approved for them an additional GH¢1.89 billion on top of the money given them at the start of 2016.


4. Where will this additional money come from? Govt says that the money will come from the energy sector levies. But that will still not be enough, so they will go and borrow to make up the difference.


5. In spite of all these, there is no assurance in the supplementary budget as to when dumsor will end so that businesses can operate smoothly and create jobs. There is no assurance that the high electricity tariffs will go down. There is no assurance that lending rates will come down so that businesses can borrow and expand to create jobs. There is no assurance that cost of living will go down. There is nothing!


6. Yet, in this same supplementary budget, govt praises itself for turning the lives of Ghanaians round!


7. This is what it has come to.


For further clarification contact:
Kwaku Kwarteng (0244 838 735


 

 

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