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{
    "id": 1161473,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1161473/?format=api",
    "text_counter": 69,
    "type": "speech",
    "speaker_name": "Sen. Poghisio",
    "speaker_title": "The Senate Majority Leader",
    "speaker": {
        "id": 202,
        "legal_name": "Samuel Losuron Poghisio",
        "slug": "samuel-poghisio"
    },
    "content": " Madam Temporary Speaker, I beg to move that the Division of Revenue Bill (National Assembly Bills No. 8 of 2022), be now read a Second Time. As a way of explaining the journey of this Bill; it was published on 25th February, 2022, passed by the National Assembly on 3rd March, 2022 and thereafter, it was referred to the Senate on the same day. The Bill seeks to provide for the equitable division of revenue raised nationally, between the national and county levels of governments, for the Financial Year 2022/2023 and connected purposes in accordance with Article 203(2) of our Constitution. Madam Temporary Speaker, in compliance with Article 218(2) of the Constitution of Kenya, as read together with the Public Finance Management Act, 2012; Standing Order No. 181(1) provides for the Division of Revenue Bill to be presented at least two months before the end of the financial year. Further, pursuant to Standing Order No.181(3), the Senate is required to consider the Bill not later than 14 days after the Bill is introduced. I, therefore, cannot over- emphasize the importance of this Bill and that we consider and pass it expeditiously. Madam Temporary Speaker, the division of revenue proposed in this Bill is based on the third basis for allocation of the share of national revenue among county governments, in light of Article 217 of the Constitution. The Financial Year 2022/2023 budget has been formulated at the time of COVID- 19 pandemic when there is still uncertainty of meeting resource mobilization targets due to the economic impact of the pandemic, hence the Bill envisages that it is imperative not to increase the County Equitable Share amidst economic uncertainty. Additionally, the Bill has taken into account concerns regarding national debts by proposing government spending ceilings, for both levels of governments in order to lower fiscal deficits and slow down debt accumulation. Madam Temporary Speaker, the Bill also addresses national concerns such as the public debt and other obligations as well as the needs of the disadvantaged groups and areas in line with Article 203(1) of our Constitution. Madam Temporary Speaker, in concluding, specifically, this is a summary- (1) The total shareable revenue of the Financial Year 2022/2023 is estimated at Kshs2 trillion. Out of this, the national Government has proposed a revenue allocation of Kshs1.7 trillion, county equitable share of Kshs370 billion and the Equalization Fund of Kshs7.068 billion. (2) The Bill proposes an additional Kshs5.6 billion to be financed from the national Government share of revenue to the county government, comprising of Kshs5.2"
}