In a surprising turn of events, Kenya’s President William Ruto has declined to sign the contentious Finance Bill 2024 into law, “having reflected on the continuing conversation around the content”.
This decision comes in the wake of widespread protests that have rocked the nation, culminating in unprecedented scenes of demonstrators breaching Parliament premises on Tuesday.
Addressing the nation from State House on Wednesday, President Ruto acknowledged the public’s dissatisfaction with the bill. that saw demonstrators breach Parliament premises for the first time in Kenya’s history, regrettably resulting in the loss of life
“Following the passage of the Bill, the country witnessed widespread expression of dissatisfaction with the Bill as passed, regrettably resulting in the loss of life, destruction of property and desecration of constitutional institutions,”President Ruto said.
“I send condolences to the families of those who lost their loved ones in this unfortunate manner.”
“Consequently, having reflected on the continuing conversation around the content of the Finance Bill, 2024, I will decline to assent to the Bill,” he said in a televised address from State House on Wednesday flanked by the ruling party members of Parliament who voted for the Bill.
President Ruto’s decision to reject the bill is seen as an attempt to de-escalate rising tensions. Prior to this announcement, protesters had vowed to continue their demonstrations on Thursday.
The Finance Bill 2024 has been a focal point of criticism from various sectors of Kenyan society, including industry groups.
After it was passed by MPs, the Finance Bill was submitted to his office for signing into law.
Kenyans, including industry groups, have widely criticised the legislation, saying it adds punitive new taxes and raises others on a wide range of goods and services that would escalate the cost of living.
Critics argue that the bill introduces punitive new taxes and increases existing ones on a wide range of goods and services, potentially leading to a significant rise in the cost of living for ordinary Kenyans.
The protests, which began in Nairobi last week, quickly spread to other major urban centers including Kisumu, Nakuru, Eldoret, Nyeri, and Mombasa. By Tuesday, demonstrations were reported in more than half of Kenya’s 47 counties, indicating the widespread nature of public discontent.
In response to the crisis, President Ruto has proposed a 14-day period for multi-sectoral, multi-stakeholder engagement to chart a way forward. This process aims to address not only the content of the bill but also auxiliary issues raised recently, including the need for austerity measures and strengthening anti-corruption efforts.
Furthermore, the President has directed immediate operational budget cuts for the presidency and the entire Executive arm of government. He has also recommended that the Judiciary, Parliament, and county governments follow suit, signaling a commitment to fiscal responsibility across all levels of government.
The rejection of the Finance Bill 2024 marks a significant moment in Kenya’s political landscape. It demonstrates the power of public opinion and the importance of responsive governance.
The situation remains fluid, and further developments are expected as the government and various stakeholders work towards a resolution that addresses the concerns of the Kenyan people while ensuring the country’s economic stability and growth.