In his maiden Budget speech, Treasury Cabinet Secretary John Mbadi has\u00a0announced\u00a0that the 2025 Finance Bill will avoid new taxes or rate hikes,\u00a0a deliberate shift aimed at\u00a0addressing public outrage\u00a0sparked by previous tax proposals.<\/p>\n
Mbadi said the 2025 Finance Bill would instead\u00a0raise\u00a0$230 million\u00a0in revenue through reforms, improved compliance, and rationalisation of tax incentives. The bill also includes\u00a0sweeping amendments to streamline tax administration and support economic recovery.\u00a0This marks a shift from last year’s budget, which sparked national outrage due to controversial tax increases that burdened households and businesses.<\/p>\n
Mbadi issued a\u00a0stark warning\u00a0over Kenya’s rising public debt, urging for tighter financial discipline, strategic planning, and more efficient revenue mobilization to prevent a looming fiscal crisis.\u00a0The government faces\u00a0growing economic\u00a0challenges, including the cost of living crisis that affects millions of Kenyans, high unemployment, and public debt.<\/p>\n","protected":false},"excerpt":{"rendered":"
In his maiden Budget speech, Treasury Cabinet Secretary John Mbadi has\u00a0announced\u00a0that the 2025 Finance 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