A quick one...the Public Wage Bill (PWB) is just one of the things slowing growth and job creation in Kenya. The other 10 KEY COMPONENTS are;- 1. Low tax collections at 35% instead of 85% or over kshs 2 Trillion extra annually going forward. 2. High interest rates charged by banks hence discouraging investments.One remedy is to serve an executive order on government- leveraged banks like National Bank to fix interest at 2% above month-on- month inflation.Additionally the GoK must stop borrowing from local banks. 3. Work towards 50;50 ratio of development budget versus recurrent expenditure;then transfer 50% of last audited ordinary revenue to counties. 4. Corruption...let public servants publicly declare wealth and allow the public to get a 30% share of auctioned assets that whistle blowers point out as having been hidden. 5.Increase top tax bands to 60% for after-tax profits of over 7 million for individuals and one million dollars for corporates. 6. Operationalize the capital gains tax quickly. 7.Intervention of government in value chains so as to boost value addition in all agricultural produce including sorting out KPCU,Mbo-i-Kamiti and other graft-laden farmers organizations. 8. Build 100,000 low cost houses annually for tenant purchase so as to boost savings and direct landlord capital to industries. 9. Organize diaspora funds into industrial investments vehicles to encourage growth and job creation.One top beneficiary can be NMC for motor vehicle production/or knowledge-based industries. 10. Liberalize production and distribution of electricity. Via Kariuki Muiri Do you agree with him?
Posted on: Tue, 11 Mar 2014 11:59:12 +0000
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