Connect with us

Hi, what are you looking for?

News

Akufo-Addo Might Tap Statutory Payments To Fund Campaign Promises – Ato Forson

A former Deputy Finance Minister has disclosed the governing New Patriotic Party (NPP) might tap into statutory payments to finance its many campaign promises.

Casiel Ato Forson said President Nana Addo Dankwa Akufo-Addo’s statement on the economy during the State of the Nation’s Address last week points to how he intends to fund his government’s programmes.

The President has said he needs a fiscal space to implement his policies and has promised to reduce the budget deficit and cut waste in all sectors of public life to achieve that.

“I will not allow this economy to collapse under my watch. We will reduce significantly the fiscal deficit this year,” he said.

The President has promised to make senior high school (SHS) free, build one factory in every district; restore payment of allowances to nursing and teacher trainees; reduce import taxes and scrape the energy levy completely.

These policies among others have described as ambitious by political opponents especially the National Democratic Congress (NDC).

Finance Minister, Ken Ofori-Atta is expected to present government’s first budget which would detail how they intend to fund their many promises and to revive the Ghanaian economy.

But the Member of Parliament for Ajumako Enyan Essiam constituency in the Central Region said he suspects that out of the three items – wages and salaries, debt serving and statutory payment – the President might touch the latter.

“Wages and salaries you can do nothing about them in the medium term because clearly we’ve already negotiated it,” he said.

He was emphatic that he could see the NPP government tapping into the 7.5 percent District Assembly Common Fund.

Currently, the various district assemblies receive 7.5 percent of the Consolidated Fund despite the constitutionally minimum of 5 percent.

Mr Ato Forson also said he could see the 2.5 percent Ghana Infrastructure and Investment Fund as well as the GETfund being used by the government.

Although he said there is nothing wrong for government to realign these items, he is more concerned about what the funds would be used for.

“I will not conclude that it is a bad thing what I will wait is what they are going to do with it,” he said, adding same was done by former Finance Minister Seth Terkper.

According to Mr Ato Forson, it would be wrong for the NPP government to remove resources meant for GETfund into the general resource pool for consumption purposes.

“If you are realigning you must do that towards the objective of the fund [you tapped].”

Join GhanaStar.com to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.

Trending Stories

News

Northern Regional Minister Salifu Sa-eed has banned prostitution in Tamale with immediate effect. This comes after a Guinean national who tested positive for the...

News

Jacques Joaquim Yhombi-Opango, former president of the Republic of the Congo, has died after contracting coronavirus, his family said. Yhombi-Opango died in a Paris...

News

The Northern Regional Minister, Salifu Saeed, has confirmed that a coronavirus patient who was under quarantine in his region has fled the facility, leaving...

News

Sixteen persons have been arrested in Kasoa in the Central Region for failing to give tangible reasons why they were in town during the...

News

A video of a young man paying dearly for refusing to adhere to the directives of the president to remain indoors has emerged barely...

News

President Nana Akufo-Addo has earned massive praise from some prominent people around the world over list latest statement on the Coronavirus disease (COVID-19). President...

News

There are now more than 3,200 confirmed cases of coronavirus across the continent, with a number of African countries imposing a range of prevention...

News

The President for Institute of Liberty and Policy Innovation (ILAPI), Mr Peter Bismark, has stated that Ghana requires GH₡15 billion for 28 days’ total...

News

The ghana government has empowered the security forces to enforce the partial lockdown of certain parts of the country in order to contain the...

Africa & World

In fact, Venezuela has done a lot of good deeds for a lot of countries, but mostly for the poor countries in the Caribbean...

Africa & World

Soaring food prices aren’t new in Haiti, the poorest country in the Western Hemisphere and heavily dependent on imports. Sadly in 2020, those prices...

News

The Bank of Ghana in its efforts to ensure the effectiveness of the lockdown directive given by President Akufo-Addo, is urging all banks and...

Copyright © 2020 GhanaStar Media Group. All rights reserved