The Vice President and presidential candidate of the New Patriotic Party, Mahamudu Bawumia, has assured Ghanaians that under his Presidency, there will not be more than 50 Ministers and Deputy Ministers.
Addressing ministers, leadership of the NPP and party supporters at UPSA in Accra, Dr. Bawumia explained that an efficient system of governance will require fewer ministers, hence, his decision to have fewer ministers adding that he “would have no more than 50 ministers and deputy ministers.”
The Vice President indicated that there is need to enhance the role of the private sector along with fiscal and administrative decentralization while improving how systems and institutions function. This, he said, would lead to greater efficiency and ensure value for money in procurement.
“The move towards the private sector provision of many public services would create fiscal space of at least 3% of GDP. This represents a major paradigm shift. Additionally, an efficient system of governance will require even fewer ministers’’ he added.
An independent fiscal responsibility council will be set up to reduce budget deficits and interest rates under the Presidency of Dr Mahamudu Bawumia.
“To sustainably reduce the budget deficit and interest rates, my government will enhance fiscal discipline through an independent fiscal responsibility council enshrined in the Fiscal Responsibility Act, 2018 (Act 982). The Fiscal Responsibility Act will also be amended to add a fiscal rule that requires that budgeted expenditure in any year does not exceed 105% of the previous year’s tax revenue. This will prevent the experience of budgetary expenditures based on optimistic revenue forecasts which don’t materialize’’
Dr. Bawumia said the government will reduce the fiscal burden on government by leveraging the private sector, following the successful roll-out and/or enhancement such as Free SHS, Free TVEY during the Nana Akufo-Addo government’s tenure.
“With all these social safety nets in place, my government will now focus on jobs, and wealth creation by the private sector for all Ghanaians. My administration will incentivize the private sector to complement government in the provision of many infrastructure and other services to reduce government expenditure and improve maintenance,” he stated.
Source: Ghana/Starrfm.com.gh/103.5FM
