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{
    "id": 728735,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/728735/?format=api",
    "text_counter": 208,
    "type": "other",
    "speaker_name": "",
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    "content": "I expect, therefore, to see a reduction of prices for these basic commodities which are enjoyed by majority of our people. It is the Government policy to increase and deepen the country’s sources of infrastructure financing. In order to achieve this, there’s need for the Government to support effective uptakes of infrastructure financing products through tax neutrality for alternative measures for raising funds for such projects. I propose, therefore, to amend the VAT Act to exempt from VAT the transactions related to transfer of assets into Real Estate Investment Trusts (REITs) and Asset Backed Securities (ABS). Kenya’s economic growth has outperformed the regional average for 8 consecutive years. We rightly deserve to be proud of our economic performance. However, as I said at the beginning of my Statement, we should not be complacent. If anything, now is the time to redouble our efforts to build upon the foundations of success. Looking ahead, these achievements need to be deepened and broadened so that the economy can be more resilient, and the benefits of growth can be more widely shared among all Kenyans. This Budget will maximise social benefits for all Kenyans. It will support industries, create jobs and improve the quality of life of Kenyans. It will also help us realise a cleaner environment; provide quality social services (health and education), and enhance access to efficient public transport. In sum, it is a budget that carefully balances on the one hand the need to reduce the cost of living for the poor by enhancing social sector spending while continuing to strengthen the foundation for long-term economic growth, job creation and provision of incentives for rapidly moving towards industrialisation of our economy."
}