Speaker Wetangula notifies MPs on President Ruto's Finance Bill memorandum

National Assembly Speaker Moses Wetangula has notified MPs and the public about the President's Memorandum on the Finance Bill 2024.

 The Committee will review its reservations and recommendations upon the House's resumption on July 23.

In the Thursday, June 27 notification, Wetangula referred the Memorandum to the Departmental Committee on Finance and National Planning.

"The Committee is expected to promptly begin considering the Presidential Memorandum and its recommendations, reporting to the House at the next regular sitting," Wetangula stated.

Standing Order 42(3) requires that any message from the President received when the House is not in session must be transmitted to every member and reported on the day the House next sits.

.

Keep Reading business

•  How counties can leverage partnerships to spur development
•  New team to probe pension billions owed by counties Premium
•  KRA in fresh plan weed out graft at port
•  Airtel bets on MSMEs amid State regulation, tax drives
•  Why the IMF is not doing enough to support Africa Premium

"Therefore, under Standing Order 42(2) and (3), I refer the President's Memorandum regarding the Finance Bill (National Assembly Bill No. 30 of 2024) to the Departmental Committee on Finance and National Planning," said Wetangula.

"The Committee is required to promptly review the President's Memorandum and provide a report at the next regular sitting," he added.

He instructed the Clerk to circulate the notification to all members and facilitate the committee accordingly.

At the same time, the Clerk will prepare the necessary message for formal conveyance to the House upon its resumption.

This follows President Ruto's decision not to sign the proposed Finance Bill 2024 into law following widespread protests.

In a Wednesday, June 26 press conference, Ruto proposed austerity measures across government departments, including the Executive.

"Because I run a government but also lead people, and the people have spoken, I am grateful to all members of the National Assembly who voted affirmatively for the Finance Bill 2024 as amended," he said.

"Listening keenly to the people of Kenya who have loudly expressed opposition to this Finance Bill 2024, I concede, and therefore I will not sign the 2024 Finance Bill, and it shall subsequently be withdrawn," he added.

He directed immediate austerity measures to reduce expenditure, beginning with the Office of the President and extending across the executive arm of government.

This includes cuts to travel, hospitality, vehicle purchases, renovations, and other operational expenses.

"Working with the Treasury, we will undertake budget cuts and austerity measures to live within our means, respecting the clear message from the people of Kenya," he said.