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{
    "id": 954674,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/954674/?format=api",
    "text_counter": 366,
    "type": "speech",
    "speaker_name": "Kathiani, WDM-K",
    "speaker_title": "Hon. Robert Mbui",
    "speaker": {
        "id": 1750,
        "legal_name": "Robert Mbui",
        "slug": "robert-mbui"
    },
    "content": " Thank you. That is why I remain completely relevant to the Finance Bill up to the end. Having talked about taxation, there are exemptions that I have noticed and I feel that the area of exemptions, which I strongly support, is on two aspects. The first one has to do with the youth who are registered under the Ajira Digital Programme and the second one, the environmental challenges that we have. As a nation, plastic materials have clogged our environment and they are really messing up this environment. Therefore, the proposal to give tax incentives to those corporations that are going to be involved in the recycling of plastics is a brilliant idea and it is something that needs to be supported. The reduction of VAT on plant machinery and equipment for the manufacture of plastics is also very important. So, I feel that the incentives that have been given are quite important. I want to finish by saying this: There is a very suspicious move that we have seen. This House debated the issue of capping interest rates. Member after Member contributed and it became law. Now I have seen an attempt, which I am happy the Speaker has ruled we can debate, to remove the capping. I think it is a very suspicious move. The proposal that has come here is that…When we put a cap on interest, it means that there is no money for borrowing by SMEs. The reality is that if you look at what the banks have done, even when interest rates were capped, they have gone into digital platforms and have been lending money to a lot of people. The control of digital platforms seems to be non-existent. If you look at the interest rates that people are paying, it is extremely too much money. So, on the issue of interest capping, I think 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."
}