NPP gov't will use ABFA to fund Free SHS - Ken Ofori-Atta

Minister of Finance, Mr Ken Ofori-Atta has said the planned free senior high school (SHS) policy scheduled to take off from September 2017 will be financed from the Annual Budget Funding Amount (ABFA).

Presenting the 2017 Budget Statement and Economic Policy on Thursday, Mr Ofori-Atta said it will cost government GH¢400 million to implement the free SHS programme for the 2017/2018 academic year.

The Senior Minister Yaw Osafo Marfo suggested that the Heritage Fund could be used to finance the programme, the Finance Minister said it will not be touched, adding he is looking at over envelop available to the government to finance the programme.

The Finance Minister told parliament that President Nana Addo Dankwa Akufo-Addo will finance the Free Senior High School programme with the Annual Budget Funding Amount.

The minister further announced the scrapping of excise duty on petroleum products. In addition to abolishing excise duty on petroleum products, the government also intends to reduce the special petroleum tax rate from 17.5% to 15%.

Additionally, other taxes will either be abolished completely or reduced to create a conducive business environment.

He noted that an amount of GH¢7,382.79 million has been allocated for the education sector for the year 2017; out of which GH¢4,310.20 million, representing 58.38 percent, will go into basic education expenditure.

He noted also that the implementation of the free SHS programme would include technical and vocational institutes.

Click to read the full budget here: Here are the taxes Nana Addo will abolish in his government

NPP gov't will use ABFA to fund Free SHS - Ken Ofori-Atta

Minister of Finance, Mr Ken Ofori-Atta has said the planned free senior high school (SHS) policy scheduled to take off from September 2017 will be financed from the Annual Budget Funding Amount (ABFA).

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