In a surprising turn of events, Kenya’s President William Ruto has rejected the controversial Finance Bill 2024 following public outcry. The President urged for austerity measures to address a potential revenue shortfall in the Ksh3.99 trillion budget for the upcoming fiscal year.
The decision was made amidst growing public anger over high taxation, with the Parliamentary Committee on Finance estimating a need to raise Ksh302 billion from the bill’s taxation measures.
Despite the government’s announcement of shelving new taxes and suspending others worth approximately Ksh200 billion, public unrest including protests, violence, and property damage erupted nationwide.
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