Vice President Dr Mahamudu Bawumia has stated that government is improving the lives of Ghanaians through its social intervention policies and welfare schemes.
He said the government is also putting structures, frameworks and vehicles in place to deliver prosperity and jobs to the citizens.
According to him, economic indicators showed that government had ceded a total of GH¢5.4 billion to Ghanaians to lessen the burden of parents, trainee teachers and nurses, porters and some unemployed graduates within 18 months in office.
Speaking at this year’s National Policy Summit on the economy of Ghana in Kumasi yesterday, Dr Bawumia said the overall expected savings on electricity alone for residential and non-residential customers, as well as industries as a result of tariff reduction would amount to GH¢1.8 billion.
“The cost of flagship programmes such as fertilizer subsidy, subsidy for BECE candidates, free SHS, expansion of School Feeding Programme, Leap expansion, allowances for trainees in nursing and colleges of education is in excess of GH¢2 billion,” he explained.
He disclosed that abolishment of ‘nuisance’ taxes by the New Patriotic Party (NPP) government since 2017 has put money indirectly into people’s pockets.
He mentioned the abolishment of the one percent Special Import levy, 17.5 percent of VAT on domestic airlines, 5 percent of real estate, 17.5 percent of financial services and 17.5 percent on spare parts, totaling GH¢1.4 billion has lessened economic hardship in the country.
The Vice President submitted that the total figure is exclusive of GH¢54.6 million increase in peacekeeping allowances of soldiers and the GH¢600 million to be paid annually to young graduates under the Nation’s Builders Corp Programme.
“These monies do not capture projects and other programmes, and it tells a great story about how President Akufo-Addo cares for the ordinary Ghanaians,” he argued.
“We will continue to manage the economy in discipline and sound framework in order to maintain fiscal and debt sustainability,” Dr Bawumia, who also heads government’s Economic Management Team, pledged.
He said government, under the leadership of President Akufo-Addo, is putting in place measures to ensure irreversibility of macroeconomic gains achieved so far, and pointed out that this, in the long run, would be crucial to moving Ghana Beyond Aid.
“So as we are improving the macro-economic policies, we have to keep an eye also on making sure that we relieve the burden on ordinary Ghana,” he noted.
“We have done that much better in our 18 months – got in place the structures, framework, vehicles that are going to deliver prosperity and jobs.”
The Vice President called for support for the president and his administration in order to implement the policies and programmes that would transform the country’s economy.
From Ernest Kofi Adu, Kumasi