Tuesday, August 13, 2024 - The National Treasury and Economic Planning Cabinet Secretary John Mbadi has surprised Kenyans.
This is after he unveiled plans
to reintroduce certain clauses from the withdrawn Finance Bill 2024 to salvage
the country's economic prospects.
This is despite having been
among those who voted to reject the draconian Finance Bill 2024 in totality.
Speaking during the handover
ceremony from his predecessor Njuguna Ndung'u, Mbadi emphasized the importance
of revisiting key provisions that could stimulate economic growth
while ensuring that public concerns are addressed.
“Yes, we have lost the Finance Bill of 2024. It will be wrong and an abuse to the people of Kenya if you tell them that you are reintroducing that bill.
"We cannot reintroduce it despite the
progressive provisions in it,” Mbadi remarked.
However, he hinted at the potential
to revive some of its non-contentious elements.
“The country must grow. There
are provisions that were in the bill that would help the country to grow.”
Mbadi's strategy involves
segmenting the Finance Bill's original proposals and reintroducing them as
standalone amendments rather than a single comprehensive bill.
“Our team is already working on
some of the proposals that were in the Finance Bill 2024 which we can now put
together and see how to take them back to Parliament not as Finance Bill but as
other proposals,” he said.
To ensure these amendments
resonate with the public, Mbadi promised extensive public participation, a
critical component that was seen as lacking in the initial process.
“Kenyans, we must discuss and
agree that yes, we will give some relief on some important items but let us do
tax exemption instead of zero rating, which ends up benefiting business people
and not the consumer,” he explained.
The Kenyan DAILY POST
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