Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 561087,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/561087/?format=api",
    "text_counter": 93,
    "type": "speech",
    "speaker_name": "Hon. G.W Omondi",
    "speaker_title": "",
    "speaker": {
        "id": 1169,
        "legal_name": "George Washinton Mallan Omondi",
        "slug": "george-washinton-mallan-omondi"
    },
    "content": "Hon. Deputy Speaker, can you ask the Chairman of Orange Democratic Movement (ODM) to consult in low tones. These sectors are also the engines of growth of our economy. The rider in this, however, is that the Government will be serious in fighting corruption and the monies allocated to these sectors will not end up in the pockets of those charged with the responsibility of running our economy. The bad side of the Bill is that the Budget does not take into account some facts, particularly the cost of living. The cost of living has not been addressed very adequately in the Bill, particularly when we increase fuel by Kshs3. This may look like a very small increase, but it cuts across the board. The prices of all activities and products that depend on fuel as an input will rise and that will create inflationary pressure within the economy. The other policy challenge that has not been addressed in the Bill is the position of export and manufacturing sectors in our economy. Kenya occupies a better position in this part of the world, but these sectors are not being addressed very adequately so that we can grow our manufacturing sector and, by extension, grow our exports to take advantage of our dominant position in the region. Finally, the deficit of over Kshs800 billion is too large. We are not taking into account the productivity of the capital that is going to be procured by this borrowing. If we borrow locally, it will end up crowding out the private sector, from which we also intend to generate revenue through taxation. So, this is a negative aspect in this Bill. The huge deficit will also cause inflationary pressure in the economy which will affect the cost of living. With those few remarks, I support the Bill."
}