The Public Finance Bill proposed by President William Ruto has sparked intense debate and public outcry, with many questioning the extensive and controversial taxation measures presented during a time of economic hardship.
While some argue that those who have been cushioned from paying taxes are making the most noise, it is clear that the salaried middle class has become an easy target for tax extraction.
This is happening while substantial tax payments from individuals and companies are being stolen or wasted on non-essential spending.
Despite pushback from those who cannot afford to pay more taxes, the ruling coalition’s control of Parliament means that the Bill will likely pass.
However, this will trigger protests both online and offline, as well as in newspaper columns and radio and TV discussions.
Meanwhile, there are progressive policies that could bring tangible change to the lives of thousands of Kenyans if implemented properly.
One such policy is the Local Content Mechanism, which encourages increased production, manufacture, and sale of locally produced goods and services.
Unfortunately, existing policies promoting local content have not been fully implemented.
Other countries like Indonesia and China have successfully implemented strict local content policies to protect their industries, create employment opportunities, boost exports, enhance innovation, and increase knowledge transfer.
South Africa’s motor vehicle industry also benefits significantly from its local content policy.
In Kenya, a local content project developed by the Global Institute of Management has reportedly been well-received by the government but needs final approval from either Minister Moses Kuria or President Ruto before it can be rolled out with funding from benefactors.
Implementing such policies would be a sure palliative against the painful consequences triggered by the Finance Bill.
It remains to be seen whether action will be taken to support these progressive policies that could benefit Kenyans in tangible ways.
