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{
    "id": 277079,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/277079/?format=api",
    "text_counter": 915,
    "type": "speech",
    "speaker_name": "Mr. Ogindo",
    "speaker_title": "",
    "speaker": {
        "id": 120,
        "legal_name": "Martin Otieno Ogindo",
        "slug": "martin-ogindo"
    },
    "content": "Mr. Temporary Deputy Chairman, Sir, allow me to say this. It has been alleged here that this amendment has communist leanings. I want to say that in the United States of America there are State laws that have been legislated to guard against usury which is the excess interest charges. In England or the United Kingdom in 1715, a law was passed called the “Legal Maximum Interest Rate” which regulated interest. The long and short of this is that if we have an affordable interest rate regime we are able to ensure that we have an economy that thrives and grows. What we have now is an interest rate that stifles the economy. I want to persuade this House that we pass this Bill in order to jump start our economy."
}