Kenyans will be relieved to learn that the cost of ugali will drop soon, after the National Treasury read out the last budget in Jubilee’s administration.
This comes after Kenyans complained about the high prices of the basic commodities, with a kilo of maize floor retailing at Sh150, while a loaf of bread retailing at Sh60
The price of basic commodities is set to reduce after CS Rotich announced tax free rates on bread and maize floor, to the relieve of majority of Kenyans, who are forced to contend with the high prices.
The Cabinet Secretary, Henry Rotich on Thursday presented a Sh2.6 trillion, the biggest budget in Kenya’s history funded by taxes and foreign loans and grants.
In a budget which was read at the National assembly two months earlier in order to allocate funds for the August general election, saw both winners and losers with civil servants earning below Sh13,500 exempted from paying taxes with an extra Sh20 billion set aside for salary review and housing.
Farmers too had something to smile about after they were allocated Sh4.1 billion for subsidized fertilizer.
Those who also felt the blow in this year’s budget were the betting, lottery, gaming and competition companies that saw an increase in tax from 7.5 per cent, 5 per cent, 12 per cent and 15 per cent to a uniform 50 per cent for all categories.
Companies manufacturing alcoholic drinks felt the hit of the tax man after the tax rate of spirits was increased from Sh175 to Sh200 per litre.