Ruto Gives With One Hand, Takes Away With Another, Blow for Matiang’i as Itumbi Renews Bid to Prosecute Him & Why Salaried Workers’ Net Pay is Set to Fall Further

Good morning,

On Monday, Kenyans breathed a sigh of relief after the Kenya Kwanza government announced that it will reduce the proposed housing levy by half from 3% to 1.5%.

The Levy, which was the main talking point in the Finance Bill 2023 public participation hearing, had elicited criticism from Kenyans who say the deduction will burden their already dwindling purchasing power amid high inflation.

This comes a day after the Finance and Planning Committee of the National Assembly made additional recommendations to a number of contentious clauses in the Finance Bill 2023 including recommending that the 15% VAT on Digital Content Creation be reduced to 5.

The Committee has also recommended tax waivers on Agricultural inputs, vaccines and electric cars.

The National Assembly Finance Committee is on Tuesday set to present the revised edition of the Bill for discussion in the House.

Do you think the reduction of the housing levy by 1.5% and the other changes will make Finance Bill 2023 good enough to silence the critics?

Here are the stories making headlines on Opera News this morning:

Ruto Gives With One Hand, Takes Away With Another

William Ruto | Biography, Age, Education, & Previous Offices | Britannica

President Ruto has been heavily criticized for his misleading claims about reducing taxes while secretly implementing hidden ones.

The Standard Newspaper’s headline on Tuesday, June 13th, read “Ruto Gives With One Hand, Takes Away With Another,” highlighting the deceptive nature of his actions.

Read more…

Blow for Matiang’i as Itumbi Renews Bid to Prosecute Him

Matiang'i: We are ready to hand over to the next government - The Standard

Months after evading prosecution on the alleged raid at his home, Former powerful interior cabinet secretary Fred Matiang’i is on the verge of landing into trouble as per the latest reports.

As relayed in Tuesday’s Standard publication, the former CS risks being freshly prosecuted after Ruto’s vocal aide Dennis Itumbi allegedly renewed a bid to have him questioned over KSh 1.5 billion Ruaraka land transaction.

Read more…

Why Salaried Workers’ Net Pay is Set to Fall Further

Gross salary vs net salary comparison -

Salaried workers’ take-home pay is set to fall further as President William Ruto’s administration continues to push for higher deductions for savings, housing and health insurance amid the ever-rising cost of living.

The State will on Thursday unveil the 2023/2024 budget, which it has coupled with a raft of revenue-raising measures that promise to further weaken the bargaining power of salaries already eroded by inflation.

Read more…

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