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{
    "id": 17313,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/17313/?format=api",
    "text_counter": 449,
    "type": "speech",
    "speaker_name": "Mr. Ogindo",
    "speaker_title": "",
    "speaker": {
        "id": 120,
        "legal_name": "Martin Otieno Ogindo",
        "slug": "martin-ogindo"
    },
    "content": "Mr. Temporary Deputy Speaker, Sir, I rise to support the Finance Bill. However, I want to point out that the Finance Bill should have come to this House earlier than now the reason being that it is important for this House to relate the finances to the expenditures. I want to suggest that as we formulate new Standing Orders, this concern should be taken into account. Mr. Temporary Deputy Speaker, Sir, I support the move by the Minister to amend the Capital Markets Act to accommodate the real estate funds. However, it is also important that this new industry, which is just about to penetrate our stock market, needs to be opened to as many Kenyans as possible. I will shortly be moving an amendment to the Banking Act to open up banking to as many Kenyans as possible, so that we can be able to have money for investment. As we are all aware, this country is in pursuit of Vision 2030. Therefore, the involvement of as many people as possible is critical. I am happy that we have a devolved system of government, which seeks to decentralise the centres of economic growth. Mr. Temporary Deputy Speaker, Sir, I also want to support the proposed amendment by the Minister to the Central Bank of Kenya Act, which seeks to regulate the foreign exchange bureaus. We are all aware that presently, Kenya is suffering the loss of strength in her shilling. I want to attribute this to the loose money market that we have. I hope that this is an action which will go a long way in trying to tighten the loose ends. I also want to add that this House needs to enhance its capacity to deal with its new role. As hon. Members may see, today we are debating the Finance Bill, which would have required good attendance by Members of the Finance Committee as well as by Members of the Budget Committee. It is incumbent upon the Parliamentary Budget Office to take its work seriously. Without that, it becomes hard to make meaningful contributions to this Bill, because these Bills are very technical and, therefore, require prior engagement; both within the House and with the industry players. With those remarks, I beg to support."
}