MP Kuria Kimani argues overtaxing is better than borrowing

By Robert Mutasi

Member of Parliament for Molo Constituency Kuria Kimani has argued that the nation preferred to overtax Kenyans rather than borrowing.

Borrowing tends to increase the debts that mount more pressure to the country paying back amidst the dilly dallying economy.

in an interview with Citizen TV on Thursday,Kimani said that the introduction of a high level of tax in the Finance Bill 2023 will solve the issue of over borrowing.

The Finance Bill Chairperson has said that the bill once entered into action, will enable the country to build itself from collection of revenues.

In addition, the bill will help the growth of the economy which will lead to an increase of Gross Domestic Product of the country which will improve the living standards of Kenyans.

He has defended the bill saying that it will enhance the country to be financially independent in the coming days and solve the issue of high cost of living.

On the other hand, Kimani has explained that the reason why they increased the 2023/24 budget is to ensure the debts borrowed by the Jubilee regime are paid.

"Part of why we have such a huge budget this particular year is to circle debts that were borrowed by the handshake regime,"he said.

The MP has claimed that when the Kenya Kwanza government under President William Ruto found insufficient money left in the treasury.

"They borrowed from the IMF bank, they borrowed from the World Bank and locally, they borrowed so much that there is no legroom,"the MP claimed.

According to Kimani, the particular budget was passed by everyone across political events and there was no condensation.

Further, he addressed that the country has already borrowed excess money and there is a need to look for an alternative way of getting money that will boost the economy and that is through taxing more.

Before the Finance Bill, 2023, which is now in the Committee of the Whole House stage, gets passed into law, the National Assembly is currently debating a number of suggested revisions to it.