President Ruto refers Finance Bill 2024, back to National Assembly

President William Ruto during a press conference in Nairobi on Wednesday, June 26. [Standard, File]

President Ruto has penned a presidential memorandum referring the Finance Bill, 2024, back to the National Assembly, citing widespread public dissatisfaction.

“In exercise of the powers conferred to me by Article 115(1)(b) of the Constitution and having reservations on the contents of the Bill in its entirety, I decline to assent to the Finance Bill, 2024, and refer the Bill for reconsideration by the National Assembly,” said Ruto.

Ruto’s move follows his decision not to sign the proposed Finance Bill 2024 into law amid protests across the country.

"Because I lead a government but also listen to the voice of the people, I am grateful to all members of the National Assembly who voted affirmatively for the Finance Bill 2024 as amended,” said Ruto in a press conference at State House Nairobi on Wednesday, June 26.

"Listening keenly to the people of Kenya who have expressed strong opposition to this Finance Bill 2024, I concede and will not sign it into law,” he added.

President Ruto's move comes in response to widespread protests and public discontent regarding the Finance Bill, 2024, which aims to amend tax laws and related duties.

The bill, passed by the National Assembly on June 25, was presented to President Ruto for assent on June 26.

Instead of assenting to the bill, President Ruto proposed austerity measures across government departments, starting with the Executive.

 "We will immediately begin austerity measures within the Office of the President and the entire presidency," he said.

The measures include cuts to operational expenses such as travel, hospitality, vehicle purchases, renovations, and other discretionary spending.

President Ruto's presidential memorandum, submitted to the Speaker of the National Assembly, Moses Wetangula, recommends the complete deletion of all clauses within the Finance Bill, 2024.