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{
    "id": 102581,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/102581/?format=api",
    "text_counter": 325,
    "type": "speech",
    "speaker_name": "Mr. Kenyatta",
    "speaker_title": "The Deputy Prime Minister and Minister for Finance",
    "speaker": {
        "id": 168,
        "legal_name": "Uhuru Muigai Kenyatta",
        "slug": "uhuru-kenyatta"
    },
    "content": " Mr. Temporary Deputy Chairman, Sir, I want to thank all the hon. Members who have contributed to this Motion. I will touch on a few points which have been repeated by a number of hon. Members. On the issue of interest that banks charge borrowers, that is why we are talking about the need to bring about strengthening of our own financial regulations in order to create fair competition amongst banks in our country. We are also encouraging banks themselves to also merge and create greater capacity and greater strength and at the same time creating more opportunity for our small and medium enterprises through encouraging and strengthening micro-finance institutions, and also by extending their outreach. These are some of the measures that the Government is taking in an attempt to ensure that credit is made available at affordable rates. Mr. Temporary Deputy Chairman, Sir, there was an issue about tax amnesty, which was raised by Mr. Shakeel. The tax amnesty that we have given is not a question of rich or poor. This is just to enable Kenyans in the diaspora to remedy their monies by investing in instruments, property and in industry, so as to boost our own economy. It is to encourage Kenyans abroad to invest in Kenya. That is really what drove us to provide for that tax amnesty. It is really not a question of benefitting the rich or the poor. These are Kenyans who live abroad. They have accumulated wealth abroad. We are giving them an opportunity to invest those monies in the country so as to create employment for our people. Mr. Temporary Deputy Chairman, Sir, there was the question of whether this Budget is pro poor. It is, indeed, pro poor. We have instituted a number of measures. To highlight just a few, there is the issue of removing the Advance Tax to matatu drivers and conductors. There is the issue of reducing Import Duty on rice. There is the issue of reducing Import Duty on wheat. All this was done in an attempt to ensure that we reduce the prices of basic commodities to our consumers."
}