How William Ruto Will Finance Budget after Withdrawing Finance Bill 2024
President William Ruto has withdrawn the controversial Finance Bill 2024.
President William Ruto speaking at a past event. Photo: William Ruto. Source: Twitter
This followed nationwide protests, during which thousands of youths took to the streets to petition the government against signing the deal.
Why Ruto declined to sign Finance Bill 2024
Addressing the nation on Wednesday, June 26, Ruto said he had conceded to Kenyans' concerns.
"Having reflected and listened keenly to the people of Kenya, I concede and I will not sign the Finance Bill 2024. This shall subsequently be withdrawn," said Ruto.
Ruto said he took the bold step of declining the Bill because Kenyans insisted on making more concessions than what MPs proposed.
The National Assembly Finance Committee presented its recommendation on the Finance Bill 2024, which saw six controversial tax proposals lifted.
Which austerity measures will Ruto employ?
The head of state-directed austerity measures to be undertaken based on the issues raised in the Bill.
Ruto said the measures will help reduce government expenditure, starting with the Office of the President.
"I direct that operational expenditure in the Presidency be reduced to remove allocations for the confidential vote, reduce travel budget, hospitality and purchase of motor vehicles, and renovations among others," he directed.
These measures included:
- Reducing expenditure in the Executive Office of the President
- Reducing expenditure in the entire executive arm of government.
- Budget cuts in Parliament, the Judiciary and the County Governments
- Budget cuts in the National Treasury.
The president said that this will ensure that the government attains its mandates of living within its means
"We will ensure that we do what I have always advocated for, that we live within our means," he added.
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