Addressing the Major Gaps in the Public Finance Bill, 2012
From the onset the design of the Bill is an “omnibus” covering a wide range of subjects. The Bill will repeal and consolidate the Budget Act and the Public Finance and Accountability Act. The Bill also provides for the amendment of the Audit Act, the Bank of Uganda Act, the National Planning Authority Act and the Income Tax Act. From the above amendments it is clear that the Bill will cover a wide range of laws. This means extra care should be taken to ensure the changes brought by the Bill will not only affect the operation of these other institutions but should also ensure the smooth running of the economy.