Kenya President William Ruto .IMAGE | Courtesy
In Summary:
1)President Ruto has withdrawn the Finance Bill 2024.
2)The decision follows public protests and aims to address the cost of living and explore alternative revenue options.
President William Ruto announced on Wednesday, June 26, the complete withdrawal of the contentious Finance Bill 2024.
Speaking at State House, Ruto cited the public outcry and the need to explore alternative means of raising funds for Kenya’s financial future.
Ruto acknowledged the widespread disapproval of the bill and emphasized that his administration had listened to the citizens’ demands to reduce the cost of living.
“After carefully considering the conversation around the bill and listening to the Kenyan people, I have decided not to sign the bill. It will be withdrawn, and that is our official position,” he stated.
The President suggested that, moving forward, there should be a national dialogue on managing the country’s financial affairs collaboratively.
He highlighted that the bill aimed to boost revenue to alleviate Kenya’s debt burden and support various government projects, including subsidizing fertilizer, paying Junior Secondary School teachers, financing the last mile connectivity project, implementing the Universal Health Coverage plan, and supporting coffee and sugar cane farmers.
Ruto also mentioned that his administration would involve young Kenyans in drafting new revenue-raising strategies.
This announcement comes amid ongoing protests against the finance bill, which have drawn international attention and calls from global leaders for the Kenyan government to listen to its people.
The protests, which began last week, have led to several deaths, property destruction, and multiple injuries.
Kenyans opposed the bill, arguing it would increase the cost of basic commodities and urging the government to find alternative tax collection methods.
They also criticized the government’s management of collected taxes, deeming it unreasonable to overburden struggling citizens.
In response to the casualties, President Ruto expressed his condolences to the families of those who lost their lives.
“I send my condolences to the families who lost their loved ones in this very unfortunate manner. Six people lost their lives yesterday, and that should not have happened. There will be a framework to ensure those six are accounted for,” he stated.