Other Critical Sectors · Sector b
Golden rule: no budget or supplementary appropriation with a fiscal deficit shall be voted in parliament.
Maintain enough cash to avoid increase in the public sector borrowing requirement and interest expenses.
Discipline through expenditure ceilings; internal controls and National Audit Office scrutiny reported to Parliament.
4th pillar transparency code: fiscal reporting, forecasting, risk analysis and resource revenue management.
Improve the business environment. Improvements in the laws with regards to regulating business registration, licensing, construction and taxation.
The UDP will introduce a culture of full disclosure of public finance, roles and responsibilities of fiscal policy makers to manage the economy including revenues and expenditures.
The budget process, policy making and policy implementation will be subjected to greater public scrutiny and determination through the following:
Introduce a fair tax system that will collect proportionately more from those with higher incomes and provide relatively uniform and non-discriminatory treatment of taxpayers with similar economic circumstances and abilities to pay.
Improve The Gambia’s ranking – Ease of doing Business – review and repel legislature to improve business regulatory environment covering the following:
Land dispute resolution mechanisms (registering property).
Resolving Insolvency (financial regulation).
Protecting Investors (Capacity building).
Tax avoidance.
Access to credit and cost of operation (Energy & Telecoms).
Improve The Gambia’s ranking – Ease of doing Business – review and repel legislature to improve business regulatory environment covering the following:
Economy Stabilization
To insulate The Gambia's economy from internal and/or external shocks.
Capital maximization
to focus on transmuting the country's cash crop exports and natural resource wealth into a longer-duration financial instrument for future generations.
Strategic development
To focus on propagating development priorities such as job creation, infrastructure development and economic diversification.