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{
    "id": 910320,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/910320/?format=api",
    "text_counter": 288,
    "type": "speech",
    "speaker_name": "Mr. Henry Rotich",
    "speaker_title": "The Cabinet Secretary for the National Treasury",
    "speaker": {
        "id": 13142,
        "legal_name": "Henry Rotich",
        "slug": "henry-rotich"
    },
    "content": "To address the challenge of the rising pensions’ budget, we have finalised a new National Pensions Policy and the Public Service Superannuation Scheme (PSSS). This scheme, which will be rolled out in the FY 2019/20, will ease the pension burden on the Exchequer and free resources for other critical national priorities while at the same time ensuring that the pension budget remains sustainable. This scheme will allow portability of pension benefits thus allowing free movement of staff into and out of Government. The Government will issue Public Investment Management Regulations, which will provide a framework for appraising and approving new projects to be funded through the Government budget. In order to enhance transparency and accountability, all the approved and on-going projects will be available in a Public Investment Management Information System portal. In addition to the expenditure measures that I have just enumerated, domestic revenue mobilisation will be critical to helping us achieve our fiscal deficit target. I will be coming back later in this Budget Statement to our proposed taxation measures that will make our tax system more efficient and strengthen our revenues. Meanwhile, in terms of administrative measures to enhance revenue collection and seal revenue loopholes, a number of initiatives are underway, including: • Sustaining the fight against illicit and counterfeit trade that was launched last year; • KRA will continue to strengthen and upgrade the ICT systems, including the full rollout of the integrated customs management system which has been delayed for too long; • Information sharing through Memorandum of Understanding (MoUs) with other jurisdictions to support the fight against cross-border tax evasion; • Revenue Enhancement Initiatives (REI) that target among others: enhanced scanning of containers to detect concealment; Implementation of a Regional Electronic Cargo Tracking system to tackle transit diversions; Implementation of new debt collection 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."
}