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    LIVE BLOG: Parliament Approves Finance Bill 2024, Triggers Next Legislative Step

    The Kenyan
    By The Kenyan Wall Street
    - June 20, 2024
    - June 20, 2024
    Kenya Business newsspotlight
    LIVE BLOG: Parliament Approves Finance Bill 2024, Triggers Next Legislative Step

    The National Assembly has approved the controversial Finance Bill 2024 in its Second Reading, as thousands of voters protest in Nairobi, Mombasa, Kisumu, and other towns across the country, as well as online, for the second time this week.

    • •In a letter responding to the legislature, Treasury CS said removing some measures from the Bill as suggested by the finance committee would create a KShs. 200bn funding gap, and trigger expenditure cuts.
    • •Parliament is under pressure to reject the bill as drafted, even after the departmental committee proposed the removal of some of the most controversial tax proposals.
    • •A majority of MPs voted YES votes in this afternoon’s vote, which automatically moves the bill to the next step in the legislative process. In its Committee Stage beginning Tuesday 25th June, the legislature will consider and vote on amendments to the Finance Bill 2024.

    5: 41pm: MPs vote for the Finance Bill 2024 to pass into the Committee of the Whole House stage. Results YES (204) and No (115).

    5:00pm: Initial results show largely partisan voting lines, with government-allied MPs voting YES and a large swathe of opposition MPs voting NO.

    4: 25pm: MPs begin voting on Thursday afternoon, after the division bell was ran to begin manual voting, by roll-call.

    4:03pm: There’s a pattern that is developing into this House that each time we come up with objectivity on a matter such as this, we are being told that CDF will be reduced, there will be no KERRA road. This kind of blackmail must stop. – Jared Okello, Nyando MP.

    4:02pm: “What this Bill proposes is to give them more dignity by making them use diapers and sanitary towels that there can be good quality, they are affordable and we can ascertain their safety. That is why we are saying let us use our locally manufactured products,” Kuria Kimani.

    4:00 pm: Molo MP and chair of Finance Committee, Kuria Kimani says that the people who reached out to him had not read the whole bill.

    3:42pm: “If we address corruption, we will be able to fund the expenses of this government. It is time for us to take a position that corruption is the biggest enemy in the room,” Esther Passaris, Nairobi Women Representative.

    3:38pm: “Mine is very simple, this Finance Bill is actually an IMF-Driven Bill. One of the tenets of the IMF is to see countries that they come into to stop subsidies, also to promote privatisation but the worst is for this countries to have oppression. That is the oppression of the people,” Ruth Odinga, Kisumu County Women Representative.

    3:28pm: “In its decision making, the House is only bound by the Constitution and the law. The ultimate decision lies with this House. I, therefore, find nothing untoward with the advisory. Its content may be used for the information for the committees and the house in plenary when considering both the Appropriations Bill and Finance Bill,” -Moses Wetangula, Speaker of the National Assembly.

    2:44pm: “This is the highest organ of our democracy. Could we get a report on what is actually happening and an assurance that this House remains independent and free to transact its business as mandated by the Constitution. Otherwise, we shall be acting now under some kind of duress because the MPs will now be acting under coercion,” Opiyo Wandayi, Leader of the Minority.


    1:16pm: “The changes have already been made. The VAT on bread has been dropped, excise on vegetable oil has been dropped, the motor vehicle tax has been dropped…I would be a very deceptive individual, if I didn’t change my stance and now support the Bill with amendments,” Ronald Karauri, MP Kasarani.

    1:04pm: “I think there is a misconception out there in the public, especially the Gen Z, they don’t understand that the Finance Bill is there to enable the budgets to be implemented. We cannot purport to implement the budget without actually knowing where to get the money from,” Carol Ngelechei, Elgeyo County Women Rep.

    12:02pm: “I take this opportunity to emphatically reject the Finance Bill. One of the things I just want to say and make clear is that we should not subject ourselves to the pressures that are being implemented by the IMF on funding conditions that they are giving to this country,” Renee Mayaka, Nominated MP.

    11:45 am: “I totally oppose this Finance Bill. Reasons being we understand that the motor vehicle tax, edible oil tax among others have been deleted but there are so many hidden taxes. When you talk of Ksh 7 a litre in fuel levy, it means that the cost of production in the local industries will go up,” – Nzambia Thaddeus, MP Kilome Constitutency.

    11:08am: “the CS is treading on very slippery and dangerous grounds. First by purporting to direct the house on what it’s supposed to do in its legislative role. Two, he is also anticipating debate because as far as I am aware, we are still at the stage of debating this Bill,” Opiyo Wandayi, Leader of the Minority.

    The Kenyan Wall Street

    We are a leading integrated digital content platform providing in-depth business and financial news across Africa & the globeSubscribe
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