Newly sworn in Cabinet Secretary for Treasury John Mbadi plans to reintroduce key parts of the rejected Finance Bill 2024 which was campaigned against by sweat and blood by Gen Z protestors forcing the president to reject to assent it to law.
According to Mbadi, he will not implement the proposal in the bill as is, but allow tax subsidization for basic commodities that affect the day to day lives of the people which includes tax amnesty extension and measures to reduce tax expenditures.
The Treasury CS proposes returning some ‘beneficial’ provisions through alternative means, rather than reintroducing the entire bill.
In a quick rejoinder, former Cabinet Secretary Moses Kuria says he sympathizes with Mbadi as takes over the Treasury dockets. Speaking exclusively to Citizen Tv’s Trevor Ombija on Monday Report, Kuria says Mbadi will face a huge challenge of balancing debts and managing the little resources the country has and encouraged him to start engaging IMF on how to lend the nation before the Kenyan Shillings start depreciating.
“Before Mbadi opens his balance sheet, the first item 650 billion (education) through the window. I didn’t mention about 1.1 trillion to pay debt, and 1 trillion to pay salaries. After paying the debt, and salaries, another 100 billion goes to pension. Counties are waiting, for another 400 billion which you can do nothing. Our problems are urgent but our solutions are not matched by the same urgency” He said
“My fears are not fears about the individuals in the government, I know most of them. I don’t have any major issues about their capacity to deliver. John Mbadi is going to be confronted by 4 major risks, the first and most important one is expenditure. He must take the knife and cut government expenditure. John Mbadi is a very stubborn man” He adds
