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{
    "id": 193504,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/193504/?format=api",
    "text_counter": 86,
    "type": "speech",
    "speaker_name": "Mr. Kimunya",
    "speaker_title": "The Minister for Finance",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": "Mr. Speaker, Sir, we have managed to balance the Budget without excessive borrowing by deliberately cutting non-productive expenditures and focusing only on the priority programmes. To generate more savings, we will be asking the Ministries to identify further areas for expenditure savings through value-for-money procurement and reduction of wasteful expenditure. The rest of my Speech outlines the various tax measures that I intend to propose through the Finance Bill, 2008 and other regulations to be tabled in this House towards the realisation of our development objectives. I, therefore, request that the remainder of my Speech be regarded as a Notice of Motion to be moved before the Committee of Ways and Means. Mr. Speaker, Sir, the measures I intend to introduce hereunder, are broadly grouped into four priority areas. The first one is restoring growth and expanding economic opportunities. The second broad area is, further reducing poverty and promoting equity and tax compliance. The third is, deepening reforms in the financial sector to make it more efficient in mobilising savings for investments and lastly and very importantly, measures to enhance contribution to national development. On the first broad area of restoring growth and expanding economic opportunities, the specific measures I am proposing under this action are intended to complement the various initiatives that I have already introduced in other parts of my Speech. They are intended to facilitate private sector growth by promoting growth of transport, tourism, manufacturing and construction sectors as well as ICT development in our country. Mr. Speaker, Sir, despite its important role in promoting tourism and regional trade, our national carrier, Kenya Airways, has continued to face stiff competition within the region and internationally. While most countries zero-rate international air travel, in Kenya, international air travel is exempt and, therefore, the import tax is a cost to the airline. In line with international best 1154 PARLIAMENTARY DEBATES June 12, 2008 practice and in recognition of the increased cost of air travel, I propose to zero-rate VAT on the supply of international air travel in Kenya."
}