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{
    "id": 102474,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/102474/?format=api",
    "text_counter": 218,
    "type": "speech",
    "speaker_name": "Mr. Musila",
    "speaker_title": "The Assistant Minister, Ministry of State for Defence",
    "speaker": {
        "id": 94,
        "legal_name": "David Musila",
        "slug": "david-musila"
    },
    "content": " Yes, Mr. Temporary Deputy Chairman, Sir. As I second the Motion, I would like to congratulate the Deputy Prime Minister and Minister for Finance for the taxation measures he has put in place. Mr. Temporary Deputy Chairman, Sir, if hon. Members were keen to listen, they must have noted that in every proposal that he made, the Deputy Prime Minister and Minister for Finance was reducing taxation for the purpose of ensuring that the economy grows, and that the people of this county can grow the economy to make Kenya a middle income country. I am sure that we will be able to achieve this objective. All of us are also encouraged by coming into force on 1st July, 2010 of the Common Market of the East African countries. There is no doubt that the Deputy Prime Minister and Minister for Finance, alongside his colleagues in the East African Community, have taken these measures jointly. There is no doubt that these are measures that are going to help our region, and Kenya in particular, in moving forward. Mr. Temporary Deputy Chairman, Sir, I have also noticed that the Deputy Prime Minister and Minister for Finance has done something that is rarely done by extending amnesty on Income Tax for Kenyans in the diaspora. This group of Kenyans has been responsible for providing the necessary foreign currency in this country even during the times we had faced difficulties. Therefore, the Deputy Prime Minister and Minister for Finance has done what is necessary to encourage this group of Kenyans to continue bringing more money to their motherland, so that we may grow. All the measures that the Deputy Prime Minister and Minister for Finance has taken are aimed at ensuring that the income tax bracket remains the same. For instance, VAT remains at 16 per cent. I particularly like his undertaking to introduce measures by next year, which are going to simplify payment of VAT. These are measures which are going to move the economy of this country forward. Mr. Temporary Deputy Chairman, Sir, one thing I would like him to ensure that he takes a very keen interest on is the interest that banks continue to charge on loans they give to Kenyans. Every time, we are told that the banking industry will regulate itself. At the end of every financial year of these institutions, they declare profits in billions of shillings. It is now a competition as to how many billions bank “A” makes as compared to the other, without taking into consideration the economy of this country."
}