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{
    "id": 327132,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/327132/?format=api",
    "text_counter": 870,
    "type": "speech",
    "speaker_name": "Mr. Githae",
    "speaker_title": "The Minister for Finance",
    "speaker": {
        "id": 159,
        "legal_name": "Robinson Njeru Githae",
        "slug": "robinson-githae"
    },
    "content": " Mr. Temporary Deputy Chairman, under our Constitution, there is only one Minister for Finance. This is an issue we dealt with not less than six months ago. We said that this is dangerous because all it will do is to make the banks increase their lending rates. Even worse, it says even for Government, we have to pay not less than 30 per cent if we put some deposits or borrow from the Treasury. Mr. Temporary Deputy Chairman, Sir, what is going to happen is that, first of all, the banks will simply not accept those deposits. So, the same people we want to help are the ones who are going to suffer. The Wanjiku and Atieno are going to lose out. Kenya is a free market. Why are we making business decisions for banks? If banks feel that they do not need your deposit, they should be free to decline taking it. If they tell you: “This is the rate at which we are going to pay”, it is for you to take it or leave it. Why are we so much against banks? I do not understand the reason for this hostility against banks. In fact, this matter should not be part of this debate, because we adopted it less than six months ago. Our Standing Orders say that if a decision has been made on the Floor of the House, it cannot be re-visited before six months are over. So, really, we need to conclude this matter and proceed to the Elections (Amendment) Rules. I oppose."
}