MPs who Voted Yes are True Heroes of Kenya, Says William Ruto

• William Ruto said that by dropping the Finance Bill 2024, the country had returned to its financial state from two years ago

• As a result of the withdrawal, Ruto stated that the Treasury would have to borrow KSh 1 trillion to fund the budget deficit

• Ruto described the MPs who supported the bill as visionary, stating that they had foreseen the benefits the bill would bring

• To manage the budget constraints, Ruto announced that the offices of the first and second lady would no longer be funded by his administration starting Monday, July 1

Muyela Roberto is a business journalist at TUKO.co.ke with over 9 years of experience in the digital media, offering deep insights into Kenyan and global economic trends.

Nairobi—President William Ruto has lauded the Members of Parliament who supported the contentious Finance Bill 2024, which was withdrawn after massive protests, describing them as the "true heroes of Kenya."

William Ruto said finance bill was not well explained to Kenyans. Photo: State House Kenya. Source: Facebook

Ruto: Kenya will have to borrow KSh 1t

In an interview at state house on Sunday, June 30, Ruto described the supporters of the bill as visionary leaders who understood the economic position of the country.

According to Ruto, the bill had envisioned freeing Kenyans from the debt burden, but its withdrawal now meant the government will now have to borrow KSh 1 trillion to be able to fund the 2024-2025 budget.

"I have been working tirelessly to bring Kenya out of this debt trap. It is easy to say let us drop the bill, and I have accepted that decision. However, it has significant consequences: we will not be able to confirm the 46,000 JSS teachers, we can not support our farmers with KSh 2 billion, we can't address the coffee debt and cherry fund, or resolve the debt of farmers in Mumias.

We will continue to import potatoes from Europe. One day, Kenyans will recognise that the MPs who voted 'yes' are the true heroes. MPs are not fools and are not mad. They are the people who saw the opportunity for us to unchain ourselves from the debt trap. The finance bill was going to take Kenya very far. It was not an easy decision, but I had to take it due to the political reality."

Ruto says Kenya Kwanza won't fund offices of first, second ladies

In a bid to be able to fund the KSh 3.9 trillion budget after the withdrawal of the bill that was expected to rake in over KSh 300 billion more, Ruto said among measures his administration would take was to remove the office of the first and second ladies.

The president also hinted at scrapping the position of chief administrative secretaries until the country can comfortably finance them.

“No CAS will be appointed until we have an economy that can support more opportunities…citizens have said there is no need for the office of first and second lady; they are offices that were there. But because we have to live within our means, these offices, beginning July 1, will not be part of the equation.

In the face of what has happened, we have to trim down, and not just these, but many other spaces are going to trim down to reflect the new reality, especially after the finance bill was taken down,” explained Ruto.

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