President William Ruto has succumbed to mounting public pressure, announcing on Wednesday that he would not sign the contentious Finance Bill 2024.
This decision follows a week of protests across the country, primarily led by Kenyan youth, who argue that the punitive tax proposals would further burden an already stretched population.
“Having reflected on the continuing conversation around the content of the finance bill of 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“Therefore, I will not sign the Finance Bill 2024 and it shall be subsequently withdrawn and I have agreed with these members, that shall become our position.”
Speaking at State House, flanked by allied members of parliament, President Ruto stated that after listening to Kenyans who overwhelmingly rejected the Bill, he would not sign it into law.
“I propose an engagement with young people of our nation to listen to their issues and agree with them on their priority areas of concern.” He said.
He also mentioned plans to engage Kenyan youth to hear their perspectives and concerns.
“I also propose that within the next 14 days, a multi-sectoral, multistakeholder engagement be held with a view to charting the way forward on matters relating to the content of the bill as well as auxiliary issues raised in recent days on the need for austerity measures and strengthening our fight against corruption.”
President Ruto emphasized the need for a multi-sectoral conversation about the public debt and the country’s future.
“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.
During his Wednesday address, he called for immediate austerity measures to reduce spending, starting with the presidency and extending to the executive branch of government.