Kenyans hope budget will address high cost of living

A section of Kenyans are optimistic that the 2019/2020 budget estimates that will be read Thursday afteroon in Parliament by Treasury Cabinet Secretary Henry Rotich will address the current high cost of living.

Those who spoke to KBC said that the government should consider reducing the cost of basic commodities.

Others expressed the need for the government to allocate more funds to activities that will help promote and nature youth talents.

Rotich will outline new expenditures and taxation measures to fund the Ksh3.02 trillion budget as he tables the budget policy statement in Parliament this afternoon.

Parliament is cautioning the National Treasury against hiking taxes in a bid to raise cash to finance the 2019/2020 budget.

This is likely to put treasury officials in a tight spot as raising taxes and introducing new ones were some of the proposals on the table to finance the 3.08 trillion shillings budget.

The National Assembly Budget and Appropriations Committee proposes that Treasury should cut wasteful spending and expand the tax base to bring on board more taxpayers.

The committee further says Treasury needs to seal pilferage loop-holes, nab tax evaders and cut wastage of public funds.

Treasury is turning to debtors to help fill a 607 billion shillings funding budget shortfall comprising 324.3 billion shillings from external lenders and 290 billion shillings locally.

As the clock ticks towards the statement hour, public anxiety is growing to see the new trick in Rotich’s budget briefcase to finance the 2019/20 budget without burdening an already burdened public.