money Monday: Ruto`s Agendas Towards The Country
How Ruto is Planning on Directing the Country to a loan-free country
During a press meeting on Sunday night, President William Ruto explained his agendas and how he is planning to carry everything out. He talked about the 3% housing plan, the prices of basic goods, how he would deal with insecurity and his aim for the country to be loan-free among other agendas.
While Kenyans were waiting for the prices of cooking gas to drop to Ksh.300 and 500, Ruto said that it would not be possible for the prices to drop by June as promised. In his explanation, Ruto said that in order for the prices to go down, it will mean that the tax be removed. The gas cylinders will then drop from Ksh. 2800 to 300 0r 500. Ruto clarified that it had to wait the approval through parliament.
On the housing issue, the president said that he is creating a win-win situation. Ruto said tha this proposal will not only help a common mwananchi acquire a home but it will also create job opportunities for almost 2 Million youths. To clarify his directive, Ruto said that the money used was from levi and not from tax, making it a win-win situation.
Ruto also explained why VAT on fuel will have to be increased. Ruto said that in addition to the 600 billion he has for the road construction plan, he wll still need extra money for the same, which calls for an additional 8 % VAT. To break down the budget, Ruto explained that 3.5% will be for road development levy, 2% on IDF and removed 8% VAT on gas.
Ruto explained that he was doing all this to help sustain the country. He also added that he mostly aims at leading a loan- free country. The president believes that it is possible and that all he required was for the people to trust his process.