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{
    "id": 556210,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/556210/?format=api",
    "text_counter": 258,
    "type": "other",
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    "content": "In order to promote a conducive business environment and ensure compliance with Article 209 (5) of the Constitution, a clearer response is needed, as well as better coordination and a well-defined framework for regulating business activity throughout the country. Towards this end, the National Treasury has issued guidelines for drafting County Finance Acts. I urge counties to adhere to the guidelines. To complement these guidelines, the National Treasury will begin consultations with all key actors with a view to introducing legislation aimed at coordinating the manner in which business activity is regulated throughout the country. In addition, there is an urgent need to review some business regulatory laws that impact negatively on businesses, such as the Environment Management and Coordination Act and the National Construction Authority Act, with a view to repealing or restructuring them. I look forward to receiving the support of all the concerned agencies in these reforms. Hon. Speaker, before I move to the revenue measures to finance the planned expenditures, I wish to express our gratitude to Parliament for approving the Estimates of Expenditure submitted to this House. We have prepared the Financial Year 2015/2016 Appropriation Bill on the basis of the Certificate issued by the National Assembly. However, we will be engaging the House with a view of making necessary amendments to address a few emerging issues. Hon. Speaker, allow me now to turn to the financial projections for the Financial Year 2015/2016 Budget. We are targeting revenue collection of KShs1,358.0 billion, which is equivalent to 20.8 per cent of Gross Domestic Product (GDP) and comprising ordinary revenues of Kshs1,254.9 trillion or 19.2 per cent of GDP and Kshs103.2 billion of Appropriations-in-Aid. This performance will be underpinned by on-going reforms in tax policy and revenue administration. The KRA is expected to institute measures to expand the revenue base and eliminate tax leakages. At the moment, KRA and the Government is automating and digitising most of the services and this will enhance collection and reduce revenue leakages. Hon. Speaker, the expenditure in Financial Year 2015/2016 is guided by the Medium Term Plan II, covering year 2013-2017 of Vision 2030 under the Jubilee Administration Strategic Priorities. In Financial Year 2015/2016, overall expenditure and net lending are projected at Kshs2 trillion or 30.7 per cent of GDP. These includes Ministerial Recurrent and Development Expenditures of Kshs.784.2 billion or 12.0 per cent of GDP and Kshs721.3 billion, respectively; Kshs264.2 billion for the county governments, (including allocations for Level 5 and funding from DANIDA) and Kshs185.3 billion for interest payments; Kshs43.4 billion for pensions and Kshs3.2 billion for other Consolidated Fund Services (CFS). The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}