President Ruto Rejects Finance Bill 2024 Amid Nationwide Protests
President William Ruto
President Ruto stood firm in his decision not to sign the Finance Bill 2024 following widespread public dissent over proposed tax hikes. Here’s a breakdown of his address and subsequent directives:
Public Pressure Sparks Presidential Decision
Amid a wave of nationwide protests led by Kenyan youth, President Ruto addressed the nation from State House. He was flanked by supportive members of parliament, emphasizing his response to public outcry against the Finance Bill 2024.
President’s Definitive Stance
“I have considered the ongoing discussions surrounding the Finance Bill 2024,” President Ruto declared, “and I will withhold my assent. The bill will not be signed into law.”
Commitment to Youth Engagement
Acknowledging the pivotal role of Kenyan youth in voicing dissent, President Ruto pledged to engage directly with them. “I propose a dialogue with our nation’s young people,” he affirmed, “to hear their concerns and prioritize their issues.”
Multisectoral Dialogue Initiative
Looking ahead, President Ruto proposed a comprehensive multisectoral dialogue within the next 14 days. This initiative aims to address not only the contentious aspects of the Finance Bill but also broader concerns over public debt and national priorities.
Call for Immediate Austerity Measures
In a bid to curb government spending, President Ruto issued directives for immediate austerity measures. “We must tighten our fiscal belt,” he asserted, “starting with significant cuts to operational expenses within the Executive Office and extending across all government ministries.”
Operational Adjustments
President Ruto specified initial steps to reduce expenditure. “Operational costs in the Presidency will be slashed,” he confirmed, “including reductions in confidential allocations, travel budgets, hospitality expenses, vehicle purchases, renovations, and other discretionary expenditures.”
Addressing Economic Concerns
Furthermore, President Ruto addressed broader economic concerns, emphasizing the need for fiscal responsibility amidst mounting public debt. “We cannot ignore the financial realities facing our nation,” he stated. “It is imperative that we balance our budgetary commitments with sustainable economic growth strategies.”
International Response
The President’s decision and proposed initiatives have garnered attention internationally, with observers noting Kenya’s proactive approach to addressing economic challenges amidst public dissent.
