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{
    "id": 1382337,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1382337/?format=api",
    "text_counter": 223,
    "type": "speech",
    "speaker_name": "Manyatta, UDA",
    "speaker_title": "Hon. Gitonga Mukunji",
    "speaker": null,
    "content": "money because we are net borrowers. We cannot say we will live without borrowing. Let us borrow and ensure we maximise the opportunities and value for money. I will deviate a little bit and go back to the borrowing in Kenya right now. I call upon the National Treasury to look at the interest rates that banks give to ordinary business people. If you borrow from a bank, 20 per cent of your profit goes towards repaying the debt. That means people have a problem financing their operations. I call upon the National Treasury to check on that. I understand inflation, but it is important to have local solutions, especially for our businesses. We also need to review laws. It is always good to say we are a thinking and working nation. We passed the Finance Bill, 2023 last year. Some things are working, others need improvement, while others need to be re-thought. While we are preparing to consider another budget and Finance Bill in June, some of the taxes we introduced and were to increase our collection have not worked right. We must review that as a House and ensure that we come up with ways of raising revenue that are not too much into killing the businesses that are being operated in the country. On the turnover tax that we introduced to our farmers, it is important because we are a asking the House to review it and reduce what is required from farmers, so that we do not have a case where farmers get frustrated and have to use the internet in trying to solve issues. As I close, we need to work on the savings that this country is accumulating. I am happy that the Government has come out strongly to see how it can improve our savings so that we can stop borrowing too much from foreign entities and get crushed by paying using dollars."
}