Hustlers in tears as RUTO plans to make their lives even more difficult – See what Treasury CS NJUGUNA NDUNG’U is planning to do that will worsen things?

 Saturday, November 12, 2022 – Even after promising to lower the cost of living and make things easy for Kenyans during his campaigns, President William Ruto has continued to do the exact opposite since coming to power over two months ago.

In a statement yesterday, Treasury CS Njuguna Ndung’u vowed to increase taxes on basic commodities in a bid to shore up revenue for Ruto’s government, meaning prices of basic commodities will increase and in the process worsen the already bad situation for Kenyan hustlers.

The CS noted that he would go after tax incentives/tax expenditures with the goal of lifting revenues above 18 per cent of GDP.

“As we prepare for the 2023-2024 financial year, and the Medium Term Budget (2023-2027), our focus will be on aggressive revenue mobilization so as to bring on board additional revenues,” Ndung’u said during the launch of the 2023/2024 Budget Making Process.

“In addition, we intend to contain growth in non-priority expenditures so as to reduce the fiscal deficit that will support the reduction in the growth of public debt and ensure sustainability.”

The drive to remove tax incentives/tax expenditures aligns largely with the previous administration which likewise hunted down incentives on offer including moving certain goods and services from VAT zero rating and tax-exempt status.

The administration, however, failed at multiple attempts to levy VAT on essentials such as maize and wheat flour.