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{
    "id": 955028,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/955028/?format=api",
    "text_counter": 212,
    "type": "speech",
    "speaker_name": "Funyula, ODM",
    "speaker_title": "Hon. (Dr.) Wilberforce Oundo",
    "speaker": {
        "id": 13331,
        "legal_name": "Wilberforce Ojiambo Oundo",
        "slug": "wilberforce-ojiambo-oundo-2"
    },
    "content": "On the question of the Capital Gains Tax, many of us were taken aback when the Government purported to increase it from the current 5 per cent to 12 per cent. In a real estate market that is now a biased market that is doing so badly, it does make sense to impose more taxes that literally slow down transactions in the market. At the opportune time, we will move those amendments, so that we expand the list of exceptions which are contained under Clause 14 of the Bill to include those of us who buy properties on mortgage. When we complete a mortgage, we would like to buy another property. We wish to sell the existing property and upgrade or engage in equity release to upgrade. So, when it comes to the Committee of the whole House, we will make those proposals to see how we can change."
}