GLOVES OFF as Angry Babu Owino reacts to Ruto's Finance Bill 2024

Babu Owino reacts to proposals by President Ruto today on Finance Bill 2024.
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These points reflect broader concerns about the financial strain on ordinary Kenyans and the potential negative impact on economic growth and employment.

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6.Public Participation and Transparency:
There is also criticism regarding the perceived lack of public participation and transparency in the formulation of the bill. Many citizens feel that their input was not adequately considered.

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2.Housing Levy:
The introduction of a mandatory housing levy has been particularly controversial. This levy would require employees and employers to contribute a percentage of salaries towards a national housing fund, which many feel is an additional financial burden.

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3. Excise Duty on Various Goods: Higher excise duties on products like alcohol, tobacco, and sugary drinks are also opposed, as these increases are likely to drive up the cost of living.

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1.Increased Taxes and Levies:
The bill proposes various tax hikes, including higher VAT on fuel, which would increase the cost of transportation and goods. There is also opposition to the introduction of new taxes on digital content creators and small businesses.

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4.Expanded Tax Base:
The bill aims to broaden the tax base to include informal sector workers and small-scale traders, who are already struggling economically. This is seen as unfair and potentially crippling to small enterprises.

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Babu Mobilize

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Kenyans have expressed opposition to several elements in the proposed finance bill. Some of the key points of contention include: