President Ruto Declines to Sign Finance Bill 2024 Following Nationwide Protests

Summary:

• President Ruto also expressed his intention to engage with Kenyan youth to understand their perspectives and concerns.

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NAIROBI: President William Ruto has announced that he will not sign the Finance Bill 2024 following public pressure.

This decision comes after a week of nationwide protests, primarily led by Kenyan youth, who argue that the punitive tax proposals would burden an already strained population.

Speaking at the State House, alongside allied members of parliament, President Ruto stated that after listening to the widespread rejection of the Bill by Kenyans, he decided not to sign it into law.

“Having reflected on the ongoing conversation surrounding the content of the Finance Bill 2024, I will decline to assent to the bill,” President Ruto said. “Therefore, I will not sign the Finance Bill 2024, and it shall be subsequently withdrawn. I have agreed with these members that this shall become our position.”

President Ruto also expressed his intention to engage with Kenyan youth to understand their perspectives and concerns.

“I propose an engagement with the young people of our nation to listen to their issues and agree with them on their priority areas of concern,” he said.

He emphasized the need for a comprehensive dialogue on public debt and the country’s future.

“I also propose that within the next 14 days, a multi-sectoral, multistakeholder engagement is held to chart the way forward on matters related to the content of the bill, as well as auxiliary issues raised in recent days, including the need for austerity measures and strengthening our fight against corruption.”

During his Wednesday address, President Ruto also called for immediate austerity measures to reduce spending.

“I direct immediate further austerity measures to reduce expenditure, starting with the Executive Office of the President and extending to the entire executive arm of government,” said President Ruto.

He stated that this initiative would begin with the presidency and then extend to the executive branch of government.

“I direct that operational expenditure in the Presidency be reduced to eliminate allocations for the confidential vote, reduce the travel budget, hospitality expenses, and the purchase of motor vehicles, renovations, and other expenditures.”