Gideon Moi wants MPs to reject Finance Bill 2024

Former Baringo Senator spoke after condoling with the family of the late Victor Prengei. [File, Standard]

Former Baringo Senator Gideon Moi has urged Members of Parliament to completely reject the proposed 2024 Finance Bill.

Moi, in a statement dated Thursday, June 20, argued that increasing taxes would not resolve the budget deficit but would further burden Kenyans already grappling with the high cost of living.

"Economic experts agree that Kenya does not face a revenue problem but an expenditure issue. Increasing taxes in an attempt to address the budget deficit places an unnecessary burden on Kenyans. Therefore, the National Assembly must reject the Finance Bill, 2024, in its entirety," he wrote on X.

According to the former Senator, the Kenya Revenue Authority fell short of its projected tax revenues in 2023 despite the aggressive taxation measures introduced in the 2023 Finance Bill.

This, he argues, indicates that higher taxes do not necessarily result in higher tax revenue.

Instead of imposing more taxes on Kenyans, Moi advises that the government should prioritise industrialisation to progressively expand the tax base and boost economic prosperity.

His remarks come at a time when thousands of Kenyans have staged demonstrations across the country to protest against the proposed 2024 Finance Bill, which is currently being debated in Parliament.

Anti-Finance Bill protests are underway in the capital Nairobi, Nakuru, Eldoret, Kisumu and Kakamega towns.

Kenyans want MPs to reject the Bill, not just amending sections of it.