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{
    "id": 1347005,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1347005/?format=api",
    "text_counter": 523,
    "type": "speech",
    "speaker_name": "Kitui Rural, WDM",
    "speaker_title": "Hon. David Mwalika",
    "speaker": null,
    "content": "High taxation reduces disposal income. When you impose high taxes, we reduce the disposal income, which in turn reduces demand, production and tax and, therefore, GDP. We also need to look at this. On the business side, I was looking at the figures for foreign direct investment in the country. I was comparing 2002 and 2001. In 2002, Uganda got US$2.5 billion as opposed to US$1.2 billion the previous year. Tanzania got US$1.2 billion and the following year they got US$1.3 billion. Kenya improved. In 2001, we got US$300 million and the following year we got US$751 million. What this tells us is that foreign direct investors prefer our neighbours to Kenya. One of the contributing factors is taxation. Some of the companies setting operations in Tanzania and Uganda are Kenyan companies. They are producing for Kenya under Common External Tariff. Basically, we are losing. We need to adopt this policy and ensure the proposals by the Committee are implemented. This will promote a conducive environment not only for businesses, but for Kenyans so that they can have disposal income, consume and inspire economic growth. Thank you. I support."
}