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{
    "id": 506995,
    "url": "http://info.mzalendo.com/api/v0.1/hansard/entries/506995/?format=api",
    "text_counter": 348,
    "type": "speech",
    "speaker_name": "Hon. Bunyasi",
    "speaker_title": "",
    "speaker": {
        "id": 2511,
        "legal_name": "John Sakwa Bunyasi",
        "slug": "john-sakwa-bunyasi"
    },
    "content": "Thank you, hon. Temporary Deputy Speaker. I rise to support the Bill as proposed. I want to thank hon. Kabando wa Kabando for bringing this before the House. It is a bold step forward; it is a responsive step to the needs of our communities. Unless we are able to drive our aggregate savings growth in this economy in the 25 to 30 per cent range, we cannot achieve the growth ideals that we have assumed we can get in Vision 2030. Certainly, one way in which this is going to drive savings up is that you give the ordinary saver, the small saver, an option that is safe. In terms of the risk profile, nothing is safer that putting your money in Government paper and instruments. Even putting it under your mattress is less safe because it can be robbed, the house can burn down and so on. This is one of the best things that can come. This has been happening of course but only for the big players and the intention of this amendment will be to bring this down to the smaller players as well. The truth is that the smaller players in aggregate hold a lot of money in the economy and that will enable the Government to mop up these funds and bring them into the formal economy."
}