The Minority New Patriotic Party (NPP) Caucus in Parliament says they have every right to believe that the 2016 Budget and Economic Policy Statement of the Government offers no relief to the suffering Ghanaian people.
To them, the document which was delivered on the floor of Parliament Friday by the Finance Minister, Seth Terkper, lacks inspiration, describing it as a “Dead Goat Budget” which when implemented will further worsen the plight of the masses.
“The cost of living has gone through the roof and the 2016 budget offers no relief to the suffering Ghanaian people. It is insensitive to the plight of Ghanaians,” Minority Leader, Osei Kyei-Mensah-Bonsu, told journalists at a press conference moments after the budget presentation.
Surrounded by all his lieutenants, Kyei-Mensah-Bonsu told Ghanaians to tighten their belts since the policy statement was characterized with more taxes, cuts in expenditure, borrowing, higher utility tariffs, higher cost of living, less growth and unemployment.
He said even though the ruling National Democratic Congress (NDC) has enough resources at its disposal, little have they done to improve on the living standards of the people.
“With ten times more resources, what has the NDC doe with all the resources under its control over the last seven budgets? Where did all the money go? The NDC has attempted to hoodwink Ghanaians by arguing that the money has been spent on infrastructure projects. The evidence has however exposed this propaganda.”
“The evidence shows that notwithstanding the massive increase in the debt stock, capital expenditure as a percentage of GDP has actually been on the decline from 9.1% of GDP in 2008 to 4.8%. Capital expenditure as a percentage of GDP average 11% for 2001-2008 (without oil) while that for 2009-2014 has averaged 6% (with oil).”
“This means that contrary to all the government claims of an increase in infrastructure expenditure on projects all over the country, the reality is that Ghana’s expenditure on infrastructure is declining.”