Budget to benefit low income earners

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Low income earners have something to celebrate after Finance CS Henry Rotich read the budget last week in parliament. 

This came after the CS waived tax on some of their earnings, a development that will see low tax band earners who take home Sh10 000 and above breathe a sigh of relief 

Those who fall on the lower tax band will enjoy tax free bonus, overtime and retirement benefit after the government waived tax on these earnings in order to increase disposable income.

Speaking in parliament on Wednesday, Rotich announced that the move was to see fairness in  combating the high costs of living across the social class divides.

“These measures are meant to cushion the workers from the high cost of living and demonstrate our commitment to sharing the growth of our economy,” he said. 

The CS further proposed to increase the tax band and relief by 10 percent in order to benefit citizens of lower income and increase their household purchasing power.

On the state of Kenya's economy, Rotich announced that the country's economy had grown to 5.6 percent in 2015 and is expected to grow to 6 per cent in 2016. 

Kenya's economy is growing faster compared to the world economy which is registering a 3.1 percent growth and that of the sub-Sahara Africa countries which registers an average 3.1 percent growth.

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