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{
    "id": 1164287,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1164287/?format=api",
    "text_counter": 44,
    "type": "speech",
    "speaker_name": "Sen. Sakaja",
    "speaker_title": "",
    "speaker": {
        "id": 13131,
        "legal_name": "Johnson Arthur Sakaja",
        "slug": "johnson-arthur-sakaja"
    },
    "content": "Giffen good. A Giffen good is a low income, non-luxury good which has no substitute. A good example is salt. If there is no salt, there is nothing you can use in place of salt. As the demand increases, the price increases. Meaning, its demand curve is the opposite of a standard concept. When the price of commodities such as salt, bread and wheat go up, the opposite of that is Veblen goods. Veblen is luxury; jewelry, celebrity and all those things. On this, when the price of Giffen goods go up--- When is the last time the price of salt went up? It shows there is a fundamental problem in the economy. Now, where do we come in? We have Committees in this House. The first thing that we need to do and we spoke about but there was no action, is this Committee on Energy. A whole 60 per cent of the cost of fuel is tax. That must be discussed and a resolution from this House moves to the next House. We must do our part. More than a Statement, the Senate needs a Motion on this and send a resolution to the National Assembly. The resolution should be that the Senate resolves that within the pricing formula of fuel that the Energy and Petroleum Regulatory Authority (EPRA) announces every month, these certain components are beyond a certain amount. We wrote down the formula and I even wrote it. Let us point out the variables that lead to the price of fuel. However, if it goes over and above Kshs100, then those variables are not used. That is why we have the Petroleum Development Levy as part of that formula. Let that kick in. Otherwise, anything to the contrary, will just be us ranting. Mr. Speaker, Sir, I know you are not campaigning yet. However, some of us are moving around campaigning. The reason why young people will hang on your vehicle wanting something small is because they are hungry and suffering. I propose that we reduce that as a matter of urgency for the sake of the people of Kenya. Beyond that, anything else will be ranting. May I request him to, please, convert this into a Motion with a resolution that will be voted on and transmitted onward to the next House. I thank Sen. Cherargei."
}