MP Charles Ngusya Nguna Criticizes Finance Bill 2024, Calls for Unity to Protect Kenyans’ Welfare

In a passionate appeal to fellow legislators, Mwingi West Mp Hon. Charles Ngusya Nguna, Member of Parliament has raised serious concerns about the Finance Bill 2024. Reflecting on the economic hardships faced by Kenyans over the past year, Nguna emphasized the struggles of both citizens and businesses under the current tax regime.

“In the last 12 months, it has been tough for Kenyans and businesses. Many Kenyans have been retrenched, the corporate world is unable to keep up with the high tax demands; many businesses have been liquidated, and others scaled down,” Nguna stated. He highlighted the significant reduction in fuel consumption and the marginal propensity to consume as evidence of the populace’s efforts to save amidst financial strain.

Nguna warned that these economic challenges have negatively impacted purchasing power parity and predicted that the Kenya Revenue Authority (KRA) will undercollect revenue this year. This underperformance is attributed to the reduced economic activity and the financial pressure on both individuals and businesses.

After thoroughly reviewing the Finance Bill 2024, Nguna voiced his concerns about its potential impact. “Truth be told, it will be more punitive than Finance Bill 2023,” he remarked. Nguna urged his colleagues to unite in finding a balanced approach to achieving revenue targets without overburdening the populace.

“This is my clarion call to fellow MPs: for the welfare of society and the just government of the people, let us come together and chart the way forward on how we can meet revenue targets without necessarily overtaxing Kenyans,” Nguna appealed. He stressed the importance of supporting the president in running the country smoothly while maintaining respect and avoiding partisan politics.

Nguna’s comments highlight a growing concern among legislators about the potential repercussions of the Finance Bill 2024 on Kenya’s economic stability and citizen welfare. His call for unity and a balanced fiscal approach aims to foster a more sustainable economic environment, ensuring that the government can meet its revenue goals without exacerbating the financial strain on its citizens.