President William Ruto has declined to ratify the highly controversial Finance Bill 2024.
The head of state also announced that the government has withdrawn the bill entirely and will have to make adjustments to the budget to reflect the decision.
He said that he came to the conclusion after countrywide discontentment with the bill as it is.
Because we have gotten rid of the Finance Bill 2024, we must have a conversation on how to manage the affairs of the country and the debt situation together. I will propose an engagement with the young people and listen to our sons and daughters,” he said.
He also called for further budget cuts in all sectors of the government to aid the country live within its means.
The law has been at the heart of the recent violent protests across Kenya.
President Ruto’s decision comes amidst mounting pressure from the public and widespread opposition to the proposed tax hikes included in the bill.
The Finance Bill 2024 has faced significant backlash from Kenyans who argue that the new tax measures would exacerbate the already high cost of living.
Having reflected on the continuing conversation around the content of the finance bill 2024 and listening keenly to the people of Kenya who have said loudly that they want nothing to do with this Finance Bill 2024. I concede and therefore I will not sign the 2024 Finance Bill and it shall subsequently be withdrawn,”President Ruto stated.
