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"id": 1173457,
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"type": "speech",
"speaker_name": "Endebess, JP",
"speaker_title": "Hon. (Dr.) Robert Pukose",
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"content": " Having listened to the Leader of the Majority Party and the old man of the House, there are things which are not logical. In as much as we are trying to justify borrowing, we should borrow what we can repay. If we are unable to repay, this will cause some distress to ourselves and those on whose behalf we are borrowing. By raising the ceiling to Kshs10 trillion, we are causing much more distress to mwananchi . This means there will be increased taxation for people to meet these obligations and the country to repay the debt. I do not support this variation to Kshs10 trillion. In 2005, our debt stood at Kshs700 billion. Today, in the Year 2022, we are talking of a debt close to Kshs8 trillion which is more than what we inherited in 2005. Are we really borrowing responsibly? Hon. Kimunya tried to explain so hard, and I was straining to understand what he was saying. When you want to borrow from a bank or any institution, for example, you should have the capacity to repay and not just to borrow. He gave an example that you, Members, are borrowing in the form of a mortgage which is cheaper compared to building a house. If you, however, take mortgage to buy a house and you are left with some money which you can use to buy a car with, and you do not have the capacity to repay, then it will be distressful. You will be causing problems to yourself. Where will you get the money to repay the mortgage? The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}