‘Gov’t does not lose, we wi*l pa*s Finance Bi*l’ – MP Sylva**s Osoro

Friday, May 12th, 2023 17:23 | By
South Mugirango MP Sylvanus Osoro 
South Mugirango MP Sylvanus Osoro. PHOTO/Courtesy
South Mugirango MP has promised that government-allied legislators will pass the Finance Bill 2023 without amending it. Speaking on Friday, May 12, 2023, Osoro who also serves as the National Assembly Majority Whip assured President William Ruto that "the government cannot lose". “With the fact that the government does not lose, I want to assure you (President William Ruto) that even the Finance Bill will pass,” he said. Osoro was speaking during Defence Cabinet Secretary Aden Duale’s book launch. Osoro's comments come hours after Nandi Senator Samson Cherargei promised that "not even a comma will be amended in the proposed Finance Bill 2023". "On the Finance Bill 2023, the decision to pass by Parliament is not optional where even coma shall not be amended because we either borrow more or raise our revenue through taxation. The serious public debt of Sh10 trillion was put by Handshake governemnt of Uhuru/ Tinga that the Kenyans are paying heavily now," Cherargei stated. The proposed Bill seeks to implement several changes such as a change in the turnover tax where the Bill proposes that the tax is applied on sales from as low as Ksh500, 000. The tax is being raised from 1 per cent to 3 per cent. The Bill also proposes a deduction of 3 per cent of basic salaries to finance the affordable housing scheme. Also proposed in the Bill is an increase in the pay-as-you-earn (PAYE) taxes from the current 30 per cent to 35 per cent on those earning Ksh500,000 and above.

Muthama on Finance Bill 2023

Former Machakos Senator and current member of the Parliamentary Service Commission (PSC) Johnson Muthama says the proposed Finance Bill 2023 is aimed at reducing the government's debt burden. In a statement, Muthama said the country should start shying away from debts and donors to finance its development projects, and instead develop its own mechanisms of financing development. "For years, we have had to bridge our budget deficits with loans which upon maturity, has led to resource constraints and as patriotic citizens, we ought to support the government in its initiatives to turn around the economy." According to Muthama, the Finance Bill 2023 carries the cure to the country's ballooning debt, which crossed the Ksh9 trillion mark for the first time in December 2022. In June 2022, the Parliament set the debt ceiling at Ksh10 trillion.

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