#BudgetReview2018: No VAT increment – Finance Minister Ken Ofori-Atta

Ken Ofori Atta and His Excellency Mahamudu Bawumia

The 2018 budget was reviewed in Parliament today July 19 by the Finance Minister, Ken Ofori Atta and the major news is the fact that rumours of a proposed increase in VAT were invalid.

Below are the key developments that were touched on in the 2018 National Budget review:

ROAD AND TRANSPORT

*We have fulfilled the promise of Free SHS, the promise of the restoration of teacher and nurses trainee allowances

 

*The first batch of 30 intercity buses have been delivered to MMT and will soon be deployed into service while the remaining 20 are expected to be delivered by the end of the 3rd quarter of 2018.

 

*Processes have been completed for the acquisition of 100 buses to augment the existing fleet.

 

*17 contracts for works have commenced including; asphalt overlay in Manhyia, Bantama and on the road from Anloga Junction to Tech Junction.

 

*Works have started on the Pokuase Interchange under the Accra Urban Transport Project.

EDUCATION

*Government fulfillment of the promise of Free SHS.

 

*Restoration of teacher and nurses trainee allowances

 

TAX

*No increase in VAT

 

Others captured in the budget review.

*No return to DUMSOR

 

*One District One Factory: The Ministry of Trade and Industry has received 781 expressions of interest, out of which 632 have been reviewed and 332 identified for financial support.

 

*On Planting for Food and Jobs, 30 new warehouses to be equipped with seed cleaners, dryers and weighing scales are being constructed in strategic Districts.

Finance Minister Ken Ofori Atta before Parliament today

 

 

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