Nairobi, Kenya – August 22, 2024: Treasury Cabinet Secretary John Mbadi has put to rest any speculation about the revival of the Finance Bill 2024, a controversial piece of legislation that was withdrawn earlier this year by President William Ruto. Speaking during an interview on Citizen TV, Mbadi firmly stated that the bill, along with its contentious clauses, will not be making a comeback under his tenure.
Clearing the Air: No Revival of Controversial Clauses
Mbadi took the opportunity to clarify recent comments that had sparked rumors about the potential revival of certain clauses from the defunct Finance Bill 2024. He emphasized that his statements had been taken out of context and that there were no plans to reintroduce the eco-levy or any other provisions that had previously faced strong public opposition.
“Eco levy is not one of the things that we are considering bringing back,” Mbadi stated, directly addressing one of the most controversial aspects of the bill. He reiterated that the Finance Bill 2024, which had sparked widespread protests and was ultimately withdrawn by the President, was “gone, buried, and withdrawn.”
Mbadi’s Stance on the Finance Bill
The Treasury CS was clear in his message: the Finance Bill 2024, with its numerous clauses that had offended the public, will not be revived. “We are not bringing back Finance Bill 2024; that should go out clearly. It is gone, buried, and withdrawn,” Mbadi asserted, making it known that these clauses have no place under his leadership.
This clarification comes just a week after Mbadi, during the handover ceremony from his predecessor Njuguna Ndung'u, had hinted at the possibility of revisiting some key provisions from the bill. At the time, he had mentioned that certain aspects of the bill could be beneficial for stimulating economic growth and that his team was reviewing some proposals to determine their viability.
Moving Forward with New Proposals
Despite his previous remarks, Mbadi now insists that any new proposals will be distinct from the controversial Finance Bill 2024. He indicated that these proposals, if brought forward, will undergo thorough public participation before being presented to Parliament.
“Our team is already working on some of the proposals that were in the Finance Bill 2024, which we can now put together and see how to take them back to Parliament, not as the Finance Bill, but as other proposals,” Mbadi explained.
The CS’s commitment to public participation suggests a more cautious approach to economic legislation, ensuring that any new policies introduced will be more aligned with the needs and concerns of the Kenyan people.
Political and Economic Implications
Mbadi’s latest statements are likely to have significant political and economic implications. By definitively shelving the Finance Bill 2024, Mbadi may be seeking to distance himself and the current administration from a piece of legislation that was widely unpopular. This move could help rebuild public trust, particularly after the backlash the bill received earlier this year.
However, the need for new economic measures remains, as Mbadi hinted at during his earlier comments. The challenge now lies in crafting new proposals that can stimulate economic growth without reigniting the controversy that surrounded the Finance Bill 2024.
