President Ruto Signs Finance Bill 2023 into Law
On Monday, June 26, following the National Assembly’s approval on Wednesday, June 21, President William Ruto signed the Finance Bill 2023 into law.
In a brief ceremony held at State Houses, other senior government officials, including National Assembly Majority Leader Kimani Ichung’wah, who led the bill’s August House campaign, witnessed the bill’s signing.
The Deputy President, Rigathi Gachagua, and the Prime Cabinet Secretary, Musalia Mudavadi, were also in attendance.
The Head of State also approved the Supplemental Appropriations (No. 2) Bill, 2023, which authorizes the National Government to spend an additional Ksh22,9 billion from the Consolidated Fund.
“This results in a reduction of Ksh25.5 billion in total expenditures relative to the revised total National Government expenditures approved in the Supplemental Appropriations (No. 1) Act 2023.
A portion of a report stated, “The reduction consists of an increase in recurrent spending of Ksh9.5 billion and a reduction in development spending of Ksh35 billion.”
Witnessing the signing of the two bills were Attorney General Justice Muturi, Treasury Cabinet Secretary Njuguna Ndung’u, and his Principal Secretary Chris Kiptoo.
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Finance Bill Contest
The Finance Bill was a hotly contested issue throughout the nation, with both the government and the opposition holding strong opinions.
The bill passed despite Azimio’s opposition and threats to return to the streets.
Ichung’wah was instrumental in the passage of the bill in the National Assembly, despite opposition from opposition lawmakers.
Ichung’wah worked closely with Majority Whip Sylvanus Osoro to rally Kenya Kwanza MPs to vote overwhelmingly in favor of the Bill.
Similarly, the Bill was passed after the Budget and Appropriations Committee of the National Assembly, chaired by Ndindi Nyoro (Kiharu), and the Finance and National Planning Committee, chaired by Kuria Kimani (Molo), reviewed and amended the budget proposed by the Treasury Cabinet Secretary Njuguna Ndung’u.
Opposition’s Walkout
On Thursday, June 15, the Azimio la Umoja One Kenya-aligned Members of Parliament staged a walkout, interrupting CS Njuguna’s speech.
Due to the controversial Budget’s introduction of new taxes, including the 1.5% Housing Levy, which forced Azimio la Umoja to return to the streets, the public was in an uproar.
The coalition accused the government of failing to address budget-related concerns raised by ordinary Kenyans.
Azimio la Umoja criticized the government for raising taxes on essential goods and services and failing to adequately address the high cost of living.
The coalition has announced that they will lead a public engagement exercise on June 27 at Nairobi’s Kamkunji Grounds.
President Ruto Signs Finance Bill 2023 into Law
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