Mt Kenya Stands to Reap Big From Finance Bill 2023, Says Gachagua

Deputy President Rigathi Gachagua says the Mount Kenya region stands to reap big from the proposals fronted in the 2023 Finance Bill. 

Speaking during a Farmers Field Day in Githunguri, Kiambu County on Saturday, June 17, 2023, Gachagua said the government has set aside a substantial amount of money to complete unfinished projects in the area. The second-in-command termed the region as a major beneficiary of the 2023/2024 Budget, stating that local farmers would profit from the government's decision to exempt certain products, such as animal feed, from taxes.

"Here in Mt.Kenya, we are great beneficiaries of the Finance Bill. Matters related to animal feeds have been zero-rated, the price will reduce and farmers will benefit. We have also scrapped VAT on tea and also zero-rated tea packaging," he said, further thanking lawmakers from the region for overwhelmingly voting in favour of the Finance Bill 2023. 

The DP stated that they would crush cartels in the coffee and tea industries to raise farmers' earnings. After a passionate discussion in the National Assembly, the Finance Bill 2023 passed the Second Reading on Wednesday. Of the 257 MPs that participated in the voting, 176 supported the law and 81 opposed it.

The committee of the whole House will meet on Tuesday, June 20 for the Third Reading of the Bill. The legislators have until June 30 to approve the Bill which should take effect on July 1.