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{
    "id": 1441379,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1441379/?format=api",
    "text_counter": 125,
    "type": "speech",
    "speaker_name": "Kikuyu, UDA",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": null,
    "content": " Thank you, Hon. Speaker. I was saying, when you speak about the cost of living two years ago, the price of unga was at a high of Ksh260. Today, the price of unga is at a low of about Ksh100. A year ago, the exchange rate of the Kenyan shilling to the dollar was at a high of Ksh162. Today, it is at a low of Ksh128 and still going down courtesy of good economic policies and pursuing what is right rather than what is popular. In the past, we suffered what was described as “state capture.” This Bill addresses the question of state capture in a big way. There are companies in this country that have survived largely on what is called “tax expenditure” and manipulating the system around tax expenditure, especially around the question of VAT refunds. This Bill is addressing the loopholes that bedevil our country, and that are used by people who are well-connected to beat the tax system and exploit tax refunds to make bigger profits for their companies. Speaking of state capture, we built an SGR infrastructure over 10 years ago…"
}