Henry Rotich

All parliamentary appearances

Entries 81 to 90 of 251.

• 14 Jun 2018 in National Assembly: On housing, access to adequate and affordable housing remains a key concern in Kenya. It is estimated that the country’s urban centres face a shortage of 200,000 housing units annually and this shortage will rise to 300,000 units by the year 2020 on current policies. At the moment, only about 50,000 new housing units are being constructed every year. view
• 14 Jun 2018 in National Assembly: Every Kenyan has a right to decent shelter. To meet this requirement, we plan to increase the supply of affordable houses by partnering with the private sector to develop homes in serviced land. This will require reforms in property registrations, access to affordable financing and adoption of new low-cost building technologies which we are prepared to undertake under the Big Four plan. Already, with a view to extending long-term loans to financial institutions secured against mortgages, we have established the Kenya Mortgage Refinance Company (KMRC), which will be jointly owned by the Government, the private sector and select development partners. ... view
• 14 Jun 2018 in National Assembly: We have also developed a comprehensive housing package that will incentivise the private sector in the construction of low cost housing. This includes reduction of corporate tax rates to 15 per cent for developers who construct, at least, 100 units per year. Additionally, we plan to establish a National Social Housing Development Fund and strengthen the National 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. view
• 14 Jun 2018 in National Assembly: Housing Corporation (NHC) to take up more strategic roles in resource mobilisation and management of tenant purchase schemes and provide alternative financing strategies for low cost housing and the associated social and physical infrastructure. view
• 14 Jun 2018 in National Assembly: In order to promote development of low cost housing for Kenyans, I propose to amend the Employment Act to provide that an employer shall contribute to the National Housing Development Fund, in respect of each employee in his or her employment, 0.5 per cent of the employees’ gross monthly emolument subject to a maximum of Kshs5,000 while the employee will contribute 0.5% of their monthly gross earnings. We intend to roll out universal health coverage to all households by 2022, so as to guarantee access to quality and affordable health care. This will involve reconfiguring the National Hospital Insurance Fund ... view
• 14 Jun 2018 in National Assembly: June 2018. Going forward, now that the challenges we faced in the last two years are behind us, we plan to bring down the deficit progressively to ensure that our public debt remains sustainable. view
• 14 Jun 2018 in National Assembly: Under this fiscal consolidation plan, we project the fiscal deficit to narrow to 5.7 per cent of GDP in the Financial Year 2018/19 from the estimated 7.2 per cent of GDP in the Financial Year 2017/18 and further to around three per cent of GDP by Financial Year 2021/22. As such, this will help stabilise the Net Present Value (NPV) of debt to GDP ratio at below 50 per cent, which is well below the 74 per cent threshold considered to signal an unsustainable debt position. Strengthening revenues through tax policy measures is at the core of achieving the fiscal ... view
• 14 Jun 2018 in National Assembly: Finance Bill 2018 to realise the objectives set out in the Big Four Plan. The tax proposals that I am submitting through the 2018 Finance Bill are designed to generate an additional Kshs27.5 billion in tax revenue for the Financial Year 2018/19. In addition, the proposed tax measures are intended to incentivise the achievement of the Big Four Plan and offer strategic incentives. Allow me to highlight some of the tax proposals in this Budget. During the East African Community (EAC) Pre-Budget Consultations meetings, we agreed on customs duties aimed at promoting industrialisation, encouraging local investments, and creating incentives in ... view
• 14 Jun 2018 in National Assembly: Thank you, Hon. Speaker. Under the Excise Duty Act, illuminating kerosene attracts a duty rate of Kshs7,205 per 1000 litres while gas oil is subject to excise duty at the rate of Kshs10,305 per 1000 litres. The difference in the rates applicable to these two petroleum products has led to adulteration of the fuel products resulting in loss of excise duty revenue to the Exchequer. 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. view
• 14 Jun 2018 in National Assembly: In order to reduce the incidence of adulteration of fuels, I propose to harmonise the rate of excise duty applicable on illuminating kerosene to Kshs10,305 per 1000 litres. Let me now turn to Income Tax. In the recent years, we have implemented tax reforms aimed at modernising tax legislation and simplification of tax administration. In this pursuit, most of the tax statutes have been reviewed, with the exception of the Income Tax Act. We are currently in the process of undertaking a comprehensive review of the Income Tax Act, and we now have a new draft Bill that has undergone ... view