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{
    "id": 1254471,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1254471/?format=api",
    "text_counter": 224,
    "type": "speech",
    "speaker_name": "Kikuyu, UDA",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": null,
    "content": " Thank you, Hon. Speaker. I support this Bill. As I support it, let me just begin by pointing out the three critical issues I see this Bill proposing to do. One is to raise revenue to meet the expenditure of our national Government and county governments - the revenue expenditure that we approved yesterday and even supplied to ministries. Two is to provide tax incentives to both consumers and Kenyan businesses. That is why you will see a raft of proposals that incentivise Kenyan businesses. Three is to improve tax administration by easing tax burdens to persons and businesses paying taxes. It is not lost on all of us that we are in an economic crisis in this country. The economic headwinds we are facing as a country, including the high cost of goods, the high cost of living, a weakening shilling against almost all major foreign currencies, are linked to the residual effects of the COVID-19 Pandemic. It is also tied to the disruptions occasioned by the war in Ukraine and Russia and the instability within our region, with the influx of refugees coming into our economy and other areas. Therefore, we are in a situation where we are not alone globally. We are part of the global economy. The rising interest rates in western democracies like the United States of America have had a ripple effect on our exchange rates and consequently even on the cost of living 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."
}