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{
    "id": 833286,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/833286/?format=api",
    "text_counter": 275,
    "type": "speech",
    "speaker_name": "Seme, ODM",
    "speaker_title": "Hon. (Dr.) James Nyikal",
    "speaker": {
        "id": 434,
        "legal_name": "James Nyikal",
        "slug": "james-nyikal"
    },
    "content": " Thank you, Hon. Temporary Deputy Speaker. I rise to support this Supplementary Appropriation Bill. Although it has come early in the budget cycle, it has been necessitated by the need for us to realise that we can only spend the money that we have without borrowing excessively and taxing our people excessively. Somebody once said that you can never tax your people into prosperity. We worked on the taxes. We moderated a little bit. It was necessary that we look at the Budget. Borrowing needs a lot of fiscal and budgetary discipline so that we cap this particularly local borrowing which competes with business and stifles production from within. We need to pass it quickly, but there is delay in disbursement. We are already in the second quarter of the budget cycle. Unless we move very fast to pass this and disbursement starts, we are going into the third quarter and we will have only one quarter left. The fourth quarter in the Exchequer release does not do much. It is that late release in the fourth quarter that normally gives us what is known as lack of absorption. The money comes when it is too late. Projects cannot be implemented at that time. There are processes. So, it is The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}