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{
    "id": 176495,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/176495/?format=api",
    "text_counter": 170,
    "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, among other sources of information that this House would need is where this money is coming from. We want the source of money made public. We want the monthly returns reflecting in the monthly revenue. We would want the monthly returns reflecting monthly expenditures, so that we are able to monitor this Budget on a monthly basis. The other aspect of this Bill is that we want to engage this House through the Departmental Committee on Fiscal Analysis and Appropriation in the policies that will determine the domestic revenue mobilisation. We want this done through improved tax policies and new creative ways expansion, for example, expansion of new charging methods towards cost recovery. We also want to bring about the response in the public debt management. Mr. Temporary Deputy Speaker, Sir, right now, it is sad to note that our domestic market in the form of Treasury Bills and Treasury Bonds is not performing. We want to expand this so that the domestic market can be enlarged. Today, it is the preserve of Nairobians. People in Mombasa, Kisumu and Eldoret do not know about the Treasury Bills and yet, we are aware that there is market there for such investments. When we had adequate publicity for the Safaricom Initial Public Offer (IPO), we were able to mobilise about Kshs300 billion. With adequate publicity on this, the domestic market is able to mobilise a lot of funds. Mr. Temporary Deputy Speaker, Sir, the other thing I want to bring about is that it was contained in the last Budget that we were going to have offshore borrowing as a source of finance to our Budget. As it is today, I wonder whether this is forthcoming and the amount that was tied to that was Kshs33 billion. The trend today, if it is anything to go by, this Kshs33 billion is not forthcoming and that is a danger to the financing of our Budget and we are facing this danger today because the House was not involved in the scrutiny of this Budget. In case this Bill goes through, we are not going to have the kind of situation where financing items are in the Budget that is not forthcoming. With those nearly many remarks, I beg to move. Mr. Temporary Deputy Speaker, Sir, I would like to call upon my able colleague, Mr. Elias Mbau, to second."
}