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{
    "id": 991938,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/991938/?format=api",
    "text_counter": 243,
    "type": "speech",
    "speaker_name": "Sen. Sakaja",
    "speaker_title": "",
    "speaker": {
        "id": 13131,
        "legal_name": "Johnson Arthur Sakaja",
        "slug": "johnson-arthur-sakaja"
    },
    "content": "I am glad to report that in our interaction with the National Treasury, they told us that they have found and secured, possibly by the end of June, Kshs120 billion grant to create a Wage Subsidy fund. That is in our Report and it is a success of this Committee. I would like to state that before we came up with this Bill, we analysed legislation from 50 countries. We looked at what parliaments have done. I am glad Sen. Kasanga mentioned the level of professionalism that our secretariat has, led by Mr. Charles Munyua, Ms. Claire and Dr. Sagini. They have looked across the world and found what is working for First World countries. They also looked at countries like Argentina, Mexico, Rwanda and South Korea. We have then been able to say that there are things we can practically do. If we had that fund of Kshs120 billion today to begin with and a corporation or business goes because we have said that you should not fire your workers---. However, we are not just cushioning your workers but also providing the fund such that you can go to your bank and there is a concessional facility from Government and you can then show your turnovers and what you earned in a similar month and in the previous year but because of Coronavirus Pandemic, you have not earned that amount. Then you can get a concessional loan or even a grant to keep your people in jobs. Mr. Deputy Speaker, Sir, we have to do that in a pandemic. This is not something to operate all the time but during a pandemic, we must do that. Otherwise, we will go into such deep recession that will take us more than 10 years to recover from, as a country. Through Pay As You Earn (PAYE), that company or organisation can first show the people they have been paying salaries so that they are not laid off. The bank has a relationship with you and will not just give you money if they do not think you have the capacity to repay. Neither will they give you a grant if you truly do not deserve it. At this time, they should be able to access that small business support which we have seen. Of course, the United States of America (USA) has a USD2 trillion budget. We do not have the same but we are saying around Kshs200 billion. I am glad we have seen banks take it up. I saw the National Chamber of Commerce and Industry and Equity Bank"
}