Wednesday, May 12We Break the News

Tag: 2020 NATIONAL BUDGET

FEATURE STORIES: Boris Johnson sets out vision of UK-EU trade deal.

FEATURE STORIES: Boris Johnson sets out vision of UK-EU trade deal.

INTERNATIONAL
The prime minister will use a speech in London later to call for a Canada-style free trade agreement - and threaten to walk away if one cannot be struck. "There is no need for a free trade agreement to involve accepting EU rules," he will say. But the Irish PM said the UK needed to agree to a level playing field. Under the EU-Canada deal, import tariffs on most goods have been eliminated between the two countries, though there are still customs and VAT checks. The flow of services, such as banking - which is much more important for the UK - between Canada and the EU are much more restricted. Leo Varadkar told the BBC on Sunday a Canada-style deal with the UK was possible - but that "Canada isn't the UK" and there was a need for common rules and standards. Pres...
UGANDA: National Budget to hit Shs 39 trillion.

UGANDA: National Budget to hit Shs 39 trillion.

AFRICA, UGANDA
Parliament yesterday passed the National Budget Framework Paper which projects a budget of Shs 39 trillion for the financial year 2020/2021. This will be Shs 5 trillion more than last year’s budget which stood at Shs 34 trillion. According to the State Minister for Economic Planning David Bahati, this budget will focus more on service delivery, infrastructural development in addition to the general election of 2021. Bahati said no amount will be generated from the Petroleum Fund to finance the budget. He disclosed that sources of financing as Shs 21.7 trillion from non-tax revenue; Shs 951 billion budget support while Shs 10.4 trillion will be projected revenue among other sources as he explains. However some MPs expressed concern that Uganda’s national debt had inc...