It will go to a few billionaires who have won massive tax incentives in the budget. In the Budget, Rotich gifted the narrow elite businesses in steel and paper manufacturing tax incentives while taxing the poorest to the bone. Development budget is only allocated about Sh625 billion while loan repayments take Sh832 billion. “The recurrent expenditure has continually crowded out development spending in past budget years, which is the case in the budget for the next fiscal year. Hence, the budget is eaten up by recurrent spending, with little going into development spending to spur the economy.

Source: Standard Digital June 18, 2019 05:15 UTC