KANU Chairman Gideon Moi has called on President William Ruto not to sign the recently passed Finance Bill 2024 into law.
By assenting to the Finance Bill 2024, Moi argues that the President will be making an already bad situation worse.
“Even as we urge for sobriety, the onus is now on the President to put the well-being of the country above anything else and return the Bill to Parliament,”
“In the interim, the Finance Act, 2023 should remain in effect while the government undertakes austerity measures to cut down on excessive expenditure and seal loopholes of pilferage,” he said in a statement Wednesday
The KANU leader condemned the attack on protesters who were expressing vehement opposition to the Finance Bill 2024, terming it unjustified.
“To treat aggrieved Kenyans as the enemy, rather than addressing the Finance Bill itself, is to misdiagnose the economic turmoil facing the country,” he said
According to Moi, Kenyans are currently braving harsh economic conditions with diminished household and disposable incomes and ought not to be overburdened with additional taxes.
Moi, further challenged the government to create a conducive environment for business and direct foreign investment, including manufacturing and value addition to create employment opportunities for young people.
“Without shifting our focus from taxation to industrialization, the continued increase in tax rates will not necessarily translate to increased tax revenues,” he said
