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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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