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{
    "id": 685213,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/685213/?format=api",
    "text_counter": 63,
    "type": "speech",
    "speaker_name": "Hon. Gaichuhie",
    "speaker_title": "",
    "speaker": {
        "id": 17,
        "legal_name": "Nelson Ributhi Gaichuhie",
        "slug": "nelson-gaichuhie"
    },
    "content": "Thank you, Hon. Deputy Speaker. I rise to second my Chairman on the Finance Bill whose Report was tabled yesterday. I request Members to go through the Report. When we did the First Reading of the Bill, we actually advertised it in the newspapers and asked stakeholders to bring amendments. We have received quite a number of them and we hope by next week we shall have gone through them and decided on which ones to choose in consultation with Treasury. We had a deadline. I am hoping that even the Members who are here have already gone through the Bill and, if they have any amendments, I hope they are already with our clerks because this being a money Bill, I do not think we will entertain any Member who brings amendments on the Floor of the House as per the Standing Orders. I wish to state that we are introducing something called the “deemed interest” in this Bill. For Members, the deemed interest is supposed to be interest that is going to be deemed and is going to be charged at an interest rate of the 91 days Treasury Bills. This deemed interest accrues where we have a loan that has been secured elsewhere and is interest free and because we need to get the interest, Treasury proposes to be introducing a deemed interest at the rate of the 91 days Treasury Bills. Hon. Deputy Speaker, the Bill has also proposed to increase the personal relief of people who have been exempted when they were only at Kshs13,944 per month. But it has proposed to 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."
}