Business News of Thu, 26 Jul 201819

Our policies have provided relief in the pockets of many ordinary Ghanaians – Dr Bawumia

The various interventions and initiatives implemented by the Nana Akufo-Addo government have provided financial relief for many ordinary Ghanaians, the Vice President of the Republic, Dr Mahamudu Bawumia has stated.

The impact of these interventions, which include the largest ever reduction in electricity tariffs and the implementation of the Free Senior High School policy, have been felt in every household in the country, and has brought significant relief to all, according to the Vice President.

Vice President Bawumia made the statement when he gave the Keynote Address at the 2018 National Policy Summits at Kumasi on Monday 23rd July 2018.

The Policy Summit, the third in the series organised by the Ministry of Information and focusing on the economy, is under the theme “Assessing the Growth, Jobs and Prosperity Agenda.” It is being attended by stakeholders and major players in Ghana’s economy and will assess and proffer suggestions on ways to ensure greater financial and social inclusion.

The Vice President emphasised that the policy and programme interventions of the Nana Akufo-Addo government are geared towards ensuring that Ghana’s development agenda affects everyone in our social strata and enhance social inclusion.

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These measures, he indicated, have yielded and continue to yield appreciable results in the 18-month tenure of the Akufo-Addo presidency.

“Government’s economic policies have not only seen an improvement in the macroeconomic indicators, it has also provided relief to ordinary Ghanaians such as parents, kayayei, the elderly teacher trainees, nursing trainees, unemployed graduates and many more.

“If we take the various social intervention and welfare packages provided by government we can determine the amount of money that government has saved the people of Ghana. These are monies that the individual can use for something different of his or her choice.”

Enumerating some of the interventions, and the financial benefits that have been transferred to the pockets of many Ghanaians, Vice President Bawumia stated:

“If we take the reduction in electricity tariffs and quantify the amount involved, we would realize that for 2018 alone, the overall expected average annual savings on electricity bills for Residential and Non-Residential customers as well as industries will amount to over GHC1.8 billion. This is money that government has put in people’s pockets indirectly.

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“As government pays for the cost of flagship programmes such as Fertilizer subsidy, Planting for Food and Jobs, subsidy for BECE candidates, Free SHS, the expanded school feeding programme, the expanded livelihood empowerment against poverty (LEAP), restoration of nursing and teacher trainee allowances, national entrepreneurship and innovation programmes for start-ups, it is directly and indirectly putting money in people’s pockets. The total amount of money that government has saved the Ghanaian people from paying for these particular programmes is in excess of GHc2 billion.”

Furthermore, the abolition of and reduction of about 15 taxes in the 2017 budget provided relief to Ghanaians amounting to GHC 1.4 billion. Also, an increase in peace-keeping allowances from $30 to $35 and an increase in the share of DACF paid to persons with disability, have directly put monies in their pockets to the tune of about GHc54.6 million, Vice President explained.

“The sum total of all the above is over GHC5.4 billion. This is significant relief to ordinary Ghanaians,” Dr Bawumia declared.

He noted that this does not include GHC 600 million that will be paid annually to the 100,000 graduates who will start work soon under the Nation Builders Corps. The graduates will be paid GHC700 per month.

“While the above does not capture all the projects and programmes we have instituted that put money into the pockets of people they tell a great story about how President Nana Addo Dankwa Akufo-Addo cares for the ordinary Ghanaian,” the Vice President added.

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