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{
    "id": 1556922,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1556922/?format=api",
    "text_counter": 351,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": " Hon. Speaker, I first thank the Leader of the Majority Party in response to this Bill for agreeing to step it down. It is not the habit of the Departmental Committee on Finance and National Planning to try to slow down any Motion or Bill that comes before the Floor of this House. We constantly endeavour to complete the tasks assigned to our Committee in record time. However, this Bill came to us as a correction of a vellum error that may have happened during the printing of the Tax Laws (Amendment) Act, 2024, that we passed in December. When we asked for clarification from the national Treasury on the financial implications of this Bill, we got a Report today that it would lead to exemptions of around Ksh15 billion. Although we have seen the impact of a change of policies and how that has happened in promoting local manufacturing and economic growth, it is important that we balance that particular aspect. In doing so, we must ensure that those particular exemptions spur local manufacturing and economic growth and that there is no possibility of abuse. We ask for more time so that we can scrutinise these particular entities. It is important that we visit them where they are, see what they do and establish whether they have an actual impact on our economy. However, tax policies that enhance local manufacturing have been proven to positively impact local employment, promote local manufacturing, and inspire economic growth. However, it is very important that we scrutinise them so they are not subject to abuse. I thank you, Hon. Speaker."
}