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{
    "id": 218051,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/218051/?format=api",
    "text_counter": 101,
    "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, I also propose amendments to the Retirement Benefits Act to provide for the establishment of a Trust Fund within the Retirement Benefits Authority (RBA) for receiving the pension funds, together with the accrued investment earnings of the pension benefits of scheme members that cannot be traced when the schemes are wound up. This will safeguard the benefits of the scheme members that are eroded over time by liquidation costs since the liquidators are unable to discharge their duty until the amounts are completely depleted or a member turns up. Mr. Speaker, Sir, on measures to improve safety on our roads, recent road accidents are partly caused by continued importation of used motor vehicles, which is compounded further by fitting those vehicles with used motor vehicles spare parts. In order to discourage the importation of such used spare parts and to enhance the safety of Kenyans on our roads, I propose to impose a 20 per cent Excise Duty rate on all imported used motor vehicle spares. This is also in accordance with what is happening within the East African Community. Mr. Speaker, Sir, in the 2006/2007 Budget, I also removed the requirement for road licenses for motor vehicles. To further ensure the safety and security of our motor vehicles and to discourage those who think they can steal them and then change their registration numbers, I propose to change the law to require that the vehicle registration books and the number plates of all vehicles that have been written-off must be returned to the Registrar of Motor Vehicles for proper keeping of records. Mr. Speaker, Sir, I have only highlighted a few of the changes. The details are contained in the Finance Bill. As I come to the conclusion, Mr. Speaker, Sir, after making those remarks, allow me to commend all the Kenyans, individuals and corporate entities, young Kenyans and other senior citizens, the business people and the working class as well as our Non- Governmental Organisations (NGO) players and scientists who participated in this year's Budget. Allow me also to commend the staff at the Treasury who worked very tirelessly to produce this Budget. For the first time in our history, the preparation of this Budget benefited immensely from a very constructive interaction with Kenyan people, some of whom wrote directly to us while others sent us proposals, some from the diaspora through our electronic mail address at the Treasury. Among the very many contributions that I received, allow me to cite one outstanding representation. This particular one was both unique in its contents and the writer. A 13-year old boy, Trevor Kibet Langat of Brookhouse School, on his 13th birthday wrote, and I wish to quote just a few sections of his Budget submission to us. 1844 PARLIAMENTARY DEBATES June 14, 2007 \"I have been watching the economy grow from 0.3 per cent to 6 per cent. But sometimes---\""
}