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{
    "id": 846792,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/846792/?format=api",
    "text_counter": 319,
    "type": "speech",
    "speaker_name": "Molo, JP",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": {
        "id": 13435,
        "legal_name": "Francis Kuria Kimani",
        "slug": "francis-kuria-kimani"
    },
    "content": "contribute towards affordable housing. Some of us can afford a decent roof for ourselves and for our families, but there are many people out there, especially the youth, who cannot afford a roof over their heads. The reasoning that this contribution is lost does not come to play. It is actually a savings to the people who do not qualify for affordable housing. A survey that was done in 2015 shows that our gross national savings only comprises of 12.7 per cent of our GDP, which is way less than the average in the continent. Kenyans, especially young people, are not saving. Apart from the statutory deduction of he NSSF, most people go into retirement without having any other savings for themselves. This piece of legislation ensures that even if you do not qualify for this affordable housing or you do not want it, that fund is still available for you and it will be paid to you at retirement at the rate of return of the Fund. With that, I support this amendment and I urge the Members to support it. On the issue of the Robin Hood Tax on transfer of over Kshs500,000, Adam Smith, when writing about canons of taxation talked about equity, where the rich should be taxed more than the poor. Anyone who is transacting more than Kshs500,000 is certainly a person of means. If you can tax an employee who gets a salary of Kshs13,000, since it is the minimum ceiling for PAYE, and even subject that person further to VAT on even food products that they buy, I do not see why we should not support the Robin Hood Tax on transactions of over Kshs500,000. This Fund is going towards the universal health care. We have people who are dying in this country because they cannot access affordable health care. It would be a good course for us as Hon. Members of this House to pass such a piece of legislation where somebody who has made a transfer of over Kshs500,000 is taxed. Some of us have the privilege of having medical insurance that probably can pay for us in millions of shillings when we get sick. But Kenyans in Molo and in other constituencies cannot afford this. I support this."
}