‘Either way, you lose’ Ruto in a fix over Finance bill, Political analyst claims
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President Ruto in a fix over proposed controversial finance bill 2023 according to political analyst Mutahi Ngunyi
President Ruto in a fix over proposed controversial finance bill 2023 according to political analyst Mutahi Ngunyi.
According to political expert Mutahi Ngunyi, President William Ruto is stuck over the Finance Bill 2023.
Ngunyi in a tweet on Monday, May 29 claimed that President Ruto has no other choice, whether he drops the bill or not.
“Dear Ruto: You should use the principle of the man who created modern Turkey, President Kamal Ataturk: ‘…For the people, despite the people’.
“You are damned if you increase taxes. And Damned if you do not. Either way, you lose. Do it for the people despite the people. Iko Swali? Ngunyi stated.
President Ruto has faced a backlash from Kenyans regarding the Finance Bill 2023 which seeks to increase taxes and introduce a mandatory 3 percent Housing Fund deductions.
The bill also proposes the income tax to raise from the current 30 percent to 35 per cent for those earning Sh500,000 and above.
It proposes imposing a tax on human hair, eyelashes, switches, and artificial nails, which would hike the prices of these popular aesthetic goods.
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If passed, the law will also raise the VAT on petroleum items from 8% to 16%.
Ruto however says that paying taxes is the only way to promote economic growth, sustainable development, and prosperity for everybody.
He stated that they will improve the provision of public amenities, demonstrating the benefits of living in a community.
The President has also tasked the Kenya Revenue Authority (KRA) with collecting Sh3 trillion in the financial year 2023/24.
This will be an increment from the Sh2 trillion collected in the last financial year and is meant to assist the government to cut on borrowing.
Kenyans decried that the increase in taxes will add to the financial burden, taking into consideration the high cost of living.
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