Entry Instance

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

{
    "id": 685299,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/685299/?format=api",
    "text_counter": 149,
    "type": "speech",
    "speaker_name": "Hon. Tonui",
    "speaker_title": "",
    "speaker": {
        "id": 1242,
        "legal_name": "Ronald Kiprotich Tonui",
        "slug": "ronald-kiprotich-tonui"
    },
    "content": "Thank you, Hon. Temporary Deputy Speaker for giving me an opportunity to support the Finance Bill. I believe it is timely and good especially because it touches on key issues concerning members of the public. On Income Tax, we want to adjust the tax relief so that our people can benefit from it. We are adjusting marginally to those earning around Kshs13,400 to get tax exemption. I wish we could adjust this to at least Kshs20,000, so that low income earners can benefit. The level of poverty in this country is increasing and many people are becoming poorer and poorer while a few are becoming millionaires and billionaires and they are the ones who should be taxed more. We should relief some of the salaried people especially teachers and public servants who are heavily taxed. The amendment to the Banking Act, especially the requirement for information sharing among SACCOS is good. This will make sure high-risk loan takers, who do not repay loans making the cost of borrowing high, can be taken care of. They should not be allowed to move from banks to SACCOS and take loans which they never repay. The issue of single owners of banks need to be addressed so that we do not have people starting a bank with Kshs500 million then welcoming other people to deposit money in those banks and then they cause the collapse of those banks, take the money and move out of this country, like it happened with the Imperial Bank case. The issue of one man owning a bank should not be encouraged. There should be proper shareholding in banks so that no single person should own more than 25 per cent shares of a bank. This will encourage transparency so that the banks do not collapse with depositors’ money. I also want to comment on the issue of bank interest rates and commend Hon. Njomo for coming up with a Bill to regulate the same. I want to urge the President to sign it. Today, there is a cartoon in the newspapers showing the dilemma facing the President. Banks are trying to lobby against the signing of Hon. Njomo’s Bill yet, the other side of common man is making a plea, that “please, save us from the high interest rates as 2017 is around the corner”. I believe the 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."
}