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{
    "id": 988248,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/988248/?format=api",
    "text_counter": 238,
    "type": "speech",
    "speaker_name": "Kitui Rural, CCU",
    "speaker_title": "Hon. David Mboni",
    "speaker": {
        "id": 13388,
        "legal_name": "David Mwalika Mboni",
        "slug": "david-mwalika-mboni-2"
    },
    "content": " Thank you very much, Hon. Deputy Speaker, for giving me this opportunity to contribute to the Bill. What I can tell Hon. Kaluma is that removal of PAYE for those earning Kshs24,000 and below will see the country lose Kshs18 billion. On reduction of the rate of PAYE, we will lose Kshs81 billion. On reduction of Corporate Tax, we are going to lose Kshs22 billion. I wanted to make that clarity. The reduction of PAYE and Corporate Tax is supposed to address two things. One, the reduction of PAYE is supposed to address the demand side, so that Kenyans can have disposable income to buy goods and services. Two, the reduction of Corporate Tax is supposed to cushion companies from the effects of the Coronavirus pandemic and enable them to retain workers who are going to be affected. However, we need to understand that increase in disposable income does not always translate to increase in purchasing. It has its own effects. If people have income but there are no goods to buy, then that can cause inflation. And inflation will have an effect on other macro-economic variables in the economy. So, we need to address the issue of supply of goods to the market. If goods are not going to be transported to markets, then we are going to have short supply. That alone is going to cause inflation. The Government should facilitate transporters so The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}