President Ruto addresses the proposed tax on bread Amid Uproar.
President Ruto addresses the proposed tax on bread Amid Uproar: On Monday 13Th May 3024, The head of state, convened a meeting with teams from the Treasury and Central Bank, at State House in Nairobi.
According to sources, he intervened in the ongoing discussions surrounding the Finance Bill 2024, specifically addressing the proposed tax on bread.
Therefore, The President directed Cabinet Secretary Njuguna Ndung’u of the National Treasury and Kimani Kuria, Chairman of the National Assembly Finance Committee, to ensure the removal of the tax proposal.
The Finance Bill 2024 had suggested implementing a 16 per cent tax on bread, which would have led to an approximate price increase of Sh10 for a 400-gram loaf.
However, President Ruto is said to have expressed concerns over the potential impact on consumers and instructed the relevant authorities to reconsider the proposal.
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