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{
    "id": 246654,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/246654/?format=api",
    "text_counter": 74,
    "type": "speech",
    "speaker_name": "The Minister for Finance",
    "speaker_title": "",
    "speaker": null,
    "content": "Secondly, to encourage the construction of hostels, especially for our college-going girls, and ensure their safety and to encourage construction of school buildings, I propose to give an industrial building allowance to both hostels and buildings used for educational purposes at an enhanced rate of 10 per cent. Mr. Speaker, Sir, let me turn to measures to encourage philanthropy and social development. The recent overwhelming response by Kenyans to help those affected by drought shows just how charitable we are, as a nation. There is need, therefore, to encourage philanthropy and offer incentives for private and public participation in social development. First, in furtherance to private-public-sector partnership, I propose to make the cost construction of a public school, a hospital, a road, or any similar kind of social infrastructure to be Income Tax deductible when tax expenditure is incurred with the prior approval of the Minister for Finance. Secondly, to encourage and deepen philanthropy, I propose to make cash donations in form of cheques to charitable organisations, whose income is exempt from Income Tax, or to projects that are approved by the Minister for Finance, Income Tax deductible. Lastly, in this category, while our country now enjoys political freedom, we must make deliberate efforts to strengthen political parties, or party politics, by encouraging democratic participation in our political parties. To encourage wider participation in registered parties and promote transparency in political funding, I propose to make Income Tax deductible any contribution by an individual or enterprise of up to Kshs1 million per annum, provided that a contribution is made through guaranteed cheques drawn in the name of a political party."
}