Tales of budget Rituals. You see, more than the first half of the ministers speech was on the review of the performance of the previous year. As the minister went on and on about how things had grown by this parcentage and that rate ... we could not relate to what she was saying. Then the minister gave the projections for the New Year and they were meaningless to us in the same way as the speakers blonde wig was to us. We, the ordinary Ugandans, have resigned to the meaninglessness to us of our countrys economic growth statistics; for the promotion of economic grown in Uganda is not base on equity. For example, evey single incentive in form of the tax cuts that the minister gave in her speech can only be fully enjoyed if one is rich. the tax cuts on suggar and the reductions on stamp duty are only meaningful in the context of economies of scale. That is to say, it is he or she who is able to buy a truck load of sugar that will enjoy the benefit of the tax cut, for by the time the sugar goes down through the retailer to the ordinary poor person who buys sugar in grams there will be no significant impact.
Posted on: Thu, 23 Jan 2014 08:08:00 +0000
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