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{
    "id": 1283448,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1283448/?format=api",
    "text_counter": 163,
    "type": "speech",
    "speaker_name": "Balambala, JP",
    "speaker_title": "Hon. Abdi Shurie",
    "speaker": {
        "id": 13294,
        "legal_name": "Abdi Omar Shurie",
        "slug": "abdi-omar-shurie-2"
    },
    "content": "However, there are limits as per Article 93(2) of the Constitution. We must appreciate that both Houses have different mandates. The Committee noted that the primary amendments by the Senate will degrade the functions of the National Assembly, especially when both Houses consider, and most importantly, pass resolutions relating to National Government borrowing. The Committee observed that the oversight role on the national Government’s borrowings and matters of public financial management is the preserve of the National Assembly as per Article 95 of the Constitution. Therefore, any reporting requirements proposed in the Bill for the National Government to comply with should be considered and approved by the National Assembly. This, according to the Committee, will reduce conflict when the two Houses give resolutions. Equally, it will reduce bureaucracy in the matter of assessing the operational debt threshold. This House notes the critical role that public debt plays today. As such, it seeks to spearhead legal reforms to ensure fiscal policies are sustainable through fiscal consolidation measures. In fact, research has shown that countries that enact reforms have had their debt to GDP ratio fall by 3 per cent on average over a multi-year period. The amendments as adopted by the National Assembly are intended to kick-start this process. We propose that we do not lose sight of this. With that, I beg to second."
}