Cabinet Secretary nominee for National Treasury and Economic Planning John Mbadi has urged Kenyans not to panic over the withdrawal of the Finance Bill 2024.
Speaking when appearing before the Committee on Appointments, on Saturday, August 3, 2024, Mbadi said that the national government still has options in terms of revenue collection that do not involve re-introduction of the entire bill that was rejected by the public.
Mbadi added that some good provisions in the controversial Bill can still be brought back to the parliament for legislation singularly.
“Kenyans should stop panicking. We don’t have to have a Finance Bill, the problem we had was that the public felt there was no proper public participation,” Mbadi said.
“This house should help me bring this legislation directly touching on these specific statutes if I’m approved but I’ll seek guidance and advice from the Attorney General, but I believe the good provisions which have been lost by this Bill, which are not contentious, and there are many which can still help grow this country’s economy, we can bring them as specific amendments to those Acts with proper public participation.”
The CS nominee further reassured members of the public that the country is not at a standstill due to the withdrawal of the widely rejected Bill, adding that in the 10th and 11th parliament, the Finance Bill would pass later in the year.
“Mr Speaker, we have been with you in the 10th parliament I think up to the 11th parliament Finance Bill used to be passed in September, we used to have like three months, we used to have three months into the financial year to pass the Finance Bill,” he said.
“The minister then was allowed by law through the revenue collection order to allow for some taxes interim taxes to be collected, but the bottom line is that the law could be in place on September 30. So there is no cause for alarm we have a legal framework .”
Finance Bill
According to Mbadi, the Finance Bill is a comprehensive Amendment Bill which amends about five or six legislations.
“I know the Finance Act of 2023 has been declared unconstitutional, although I don’t know whether I am correct that has been appealed but if that is correct that is good, still, we don’t have a lacuna. Finance Bill is an omnibus Amendment Bill, we have about five or six legislations that Finance Bill usually amends, we have Excise Duty, Import Duty, Value Added Tax, Income Tax, Tax Procedures Act, and fees and levies,” he said.
John Mbadi: Kenyans should stop panicking. This house should help me bring this legislations directly touching on these specific statutes. We do not need to have a Finance Bill. The problem we had was that the public felt there was no proper public participation.#K24Siasa pic.twitter.com/zSqQ12n9nI
— K24 TV (@K24Tv) August 3, 2024