Adongo discloses how NDC will fund ambitious projects

National Democratic Congress (NDC) MP for Bolgatanga Central, Nr. Isaac Adongo has taken a swipe at the governing New Patriotic Party (NPP) for challenging them to disclose how they would be funding their manifesto promises.

Speaking that Town Hall Meeting organised by the party on its ‘People’s Manifesto’, Mr. Adongo asked the NPP to tell Ghanaians what the contents of their manifesto are and stop asking the NDC how it intends financing their manifesto promises.

In his explanation, he said the current government passed the Earmarked Funds and Capping Realignment Bill, 2017, into Law under a certificate of urgency by Ghana’s Parliament.

The Bill he said passed to provide a cap for Earmarked Funds to ensure that the total of Earmarked Funds for each financial year is equivalent to 25% of tax revenue and to provide for related matters.

The government had explained that the Capping arrangement became necessary due to the need to remove some of the rigidities in Ghana’s public expenditure and development strategies.

Mr. Adongo told the gathering the Bill gave the government so much revenue which was supposed to hit the GETFund account for the nation to use it to construct facilities for the education sector but they withdrew the money and sent it to the Office of the President.

He alleged GETFund was receiving an annual allocation of GHc900 million but the government could not account for what the money was used for.

”Aside from that, the government was receiving GHc900 million from the Health Insurance Fund but they told us they will use the money for the one-village-one dam policy. But they cannot account for what the money was used for. They also withdraw GHc600 million from the Road Fund and when it gets to the presidency, the money is wasted.

”Mr. John Dramani Mahama has promised to review all these allocations and ensure that the allocation for GETFund is used for the ‘Big Push’ infrastructure projects. When and the GETFund allocation of 2 billion a year, and multiply it by four years, the Mahama led administration will raise 8 billion in four years and 10 billion in 5 years to finance education. Also, when you calculate the allocation for the National Health Insurance of 900 million, plus another 1.1 billion, you will get GHc2 billion a year and in four years, you will get 8 billion and 10 billion in 5 years to finance healthcare and health infrastructure. And so, the GETFund allocation and that of the National Health Fund that is wasted by the elephant government will give is 20 billion to manage this country.

When you also take the GHc2.4 billion they put in the Consolidated Fund annually, that will give us over GHc3 billion to help us construct roads and develop Ghana. When you add all these together, we will get GHc27 billion. The total cost of the Big Push is GHc56 billion. The calculation I did will give us GHc26 billion. Every year, the NPP goes to the Capital Market to borrow $3 billion but we ask them

When you ask them to show what they did with the money, they have nothing to show for it. If former President Mahama gets GHc1.5 billion, that will give $ 6 billion which is about 36 billion Ghana cedis to finance the Big Push. Which means in 4 years, Mahama would have raised over 52 billion out of the 567 billion to finance the Big Push.”

He continued: ”when they ask you where the money will come from to finance our policies, tell them when the elephant is removed from office, we will use the resources it was swallowing to finance our policies.”