President William Ruto has declined to sign the Finance Bill 2024 into law.
Addressing the nation on Wednesday, June 26 at State House Nairobi, President Ruto directed that the Finance Bill 2024 be withdrawn.
“Having reflected on the continuing conversation around the content of the Finance Bill 2024, and listening keenly to the people of Kenya, who have said loudly they don’t want anything to do with this Finance Bill 2024.
"I concede and therefore I will not sign the 2024 Finance Bill and it shall subsequently be withdrawn and I have agreed with these members that this becomes our collective position,” said Ruto.
The Head of State went on to say there is a need for the nation to have a conversation about how the affairs of the country and external debt should be managed.
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“I will be proposing an engagement with the young people of our nation, our sons and daughters, and listen to their views, proposals, ideas, concerns, and what they think we should do better going forward,” Ruto stated.
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The President recommended a multisectoral, bipartisan, and multistakeholder engagement to address the future of Kenya on matters in the Finance Bill 2024 that Kenyans have raised.
Further Ruto directed immediate austerity measures to reduce expenditure in the executive arm of government.
“I am directing for immediate further austerity measures to reduce the expenditure starting with the office of the President, the entire presidency and extending to the entire executive arm of government,” said Ruto.
He mentioned that the operational expenditure in the presidency should be reduced to remove allocations on travel, hospitality, purchase of motor vehicles, renovations, and other expenditures.
Ruto urged the Judiciary, Parliament, and county governments to undertake budget cuts and respect the loud message from Kenyans.
This comes after Kenyans took to the streets to protest against the Finance Bill 2024. The demos were witnessed across major towns in the country.
In Nairobi, several protestors were shot dead outside the Parliament buildings as they overpowered the police.
The Finance Bill 2024 was on Tuesday passed in the National Assembly after 195 MPs voted to pass it while 106 others rejected it. Three votes were spoilt.
