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{
    "id": 846805,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/846805/?format=api",
    "text_counter": 332,
    "type": "speech",
    "speaker_name": "Seme, ODM",
    "speaker_title": "Hon (Dr.) James Nyikal",
    "speaker": {
        "id": 434,
        "legal_name": "James Nyikal",
        "slug": "james-nyikal"
    },
    "content": "On capping, I think the lower cap can be discussed, but the upper cap is a no-go zone. I do not believe in the reason that has been given that the Government is competing with peasants to borrow money. I think banks are becoming a cartel. By proposing that we use the Kenya Bankers Reference Rate, you cannot use people who charge high interest rates! That will not work. We should not accept that one. On the Robin Hood Tax, normally, we have seen, particularly in the health sector, the issue of the sin tax. The difference between the two is that in the Robin Hood Tax, people do not transfer money for leisure. They are forced. Sometimes it is for paying debts or school fees and yet on that transfer, you are taxed. With regard to the sin tax, which is slapped on cigarettes and alcohol, these are things that people can choose. One can decide to stop a particular habit and if one insists, then one must pay the tax. Again, they are on areas that are injurious to health. I know there are exemptions that have been put. The exemptions, to a large extent, just support Government bodies like the KRA when transferring money to them, but we should look at where individuals are affected in things that they have to transfer. It is important that we look at that. Let me end on the issue of waiver. The Chairman yesterday said that the waiver on VAT on petroleum products has been given to the Minister by an Act that was passed several years ago. I think that is a pretext. They know very well that if this goes on, money will be raised and it will affect our people. That should be a prerequisite and a condition that if they want us to look 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."
}