By Halimah Olamide
Following widespread protests, the Kenyan President, William Ruto, has withdrawn the proposed tax increases contained in the controversial finance bill 2024.
NPO reports that Ruto introduced new taxes to bolster state finances and secure additional funding from the International Monetary Fund.
On Tuesday, legislators from his ruling coalition managed to pass the bill after removing some controversial taxes, including a 16% levy on bread.
Although these fiscal reforms have been well-received by the markets.
They have also incited protests among citizens grappling with escalating food prices and a youth unemployment rate, which the Federation of Kenya Employers estimates to be as high as 67%.
The protest which erupted on Tuesday turned out deadly when security forces fired teargas and live ammunition at protesters.
“Listening keenly to the people of Kenya who have said loudly that they want nothing to do with this finance bill 2024, I concede, and therefore I will not sign this Finance Bill, 2024. and it shall subsequently be withdrawn, I run a government but I also lead people. And the people have spoken.”
“I propose an engagement with young people of our nation to listen to their issues and agree with them on their priority areas of concern.
“I also propose that within the next 14 days, a multi-sectoral, multi-stakeholder engagement be held with a view to charting the way forward.”
Meanwhile, no fewer than 23 people have been reported dead in the violence, according to Kenya’s Police Reforms Working Group, (PRWG) a civil society organization