25 Sep 2019 in National Assembly:
Hon. Temporary Deputy Chairlady, I was not contributing to this. I was contributing to the other one.
view
25 Sep 2019 in National Assembly:
Thank you, Hon. Temporary Deputy Chairman. I rise to support this amendment by the Chair of the Committee. But we must look at affordable housing from a… Hon. Chair, please protect me from this distraction.
view
25 Sep 2019 in National Assembly:
As I support this, we must look at it from a wider point of view. Most of those affordable houses are being developed in urban areas. We will have a situation where people in urban areas can afford houses, while those in rural areas are unable to build. What will happen is that we will have rural-urban migration and our rural areas will lag behind.
view
25 Sep 2019 in National Assembly:
Secondly, we are exempting developers from paying taxes when they import some of those products. As we do this, we must also have incentives for the local manufacturers who make local materials to be used for low cost housing. This will improve the economy of the 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
25 Sep 2019 in National Assembly:
country and create employment. So, as we reduce taxes on imported materials, we must also give incentives to the local manufactures so that we can build our country as we build our housing.
view
25 Sep 2019 in National Assembly:
Thank you, Hon. Temporary Deputy Chairman.
view
25 Sep 2019 in National Assembly:
Hon. Temporary Deputy Chairman, our economy is supported by paying taxes. Every sector of the economy pays taxes so that we get money for the Government to use. I find this amendment discriminatory. One sector of our economy is not paying taxes, while all the other sectors are doing so. I would like every sector of our economy to play its role by paying taxes to support our economy. If coffee farmers are paying taxes to export coffee and when tea farmers are exporting tea…
view
25 Sep 2019 in National Assembly:
Thank you, Hon. Temporary Deputy Chairman. This is the first time we have one matter that is being discussed in two Bills. This matter of interest rate capping was discussed in the Banking (Amendment) Bill, which we concluded the Second Reading this morning, and in the Finance Bill. I would like to thank the Chair of the Departmental Committee on Finance and National Planning and his Committee Members because they have taken into consideration all the matters that were discussed in the Banking (Amendment) Bill and they have brought them in this Bill. This will give us an opportunity to ...
view
25 Sep 2019 in National Assembly:
sanitise the faults that were found by the courts in this Bill. This will be done within the required time of 12 months.
view
25 Sep 2019 in National Assembly:
It is worth noting that the National Treasury had recommended the removal of interest rate caps. I do not know whether they are in touch with the public. If you go out there, everybody wants the interest rate cap to remain because of what they have gone through with the banks. If banks were charging us an interest rate of 24 per cent when our economy was a bit stable, can you imagine what they would be charging today when we have a shaky economy? If we are not protected by this law, I am sure by now interest rates ...
view