Orange Democratic Movement (ODM) lawmaker has hinted at his plan to introduce a bill in the National Assembly which mandates every Kenyan to save 40% of their earnings.
Taking to his official Twitter account on Monday, Narok Senator Ledama Ole Kina cited that the savings should not be taxed.
According to the lawmaker, this should be done in a special government fund and do away with the tax on capital gains, which h believes will help change the future of Kenya as a country.
“Enough is Enough! We must change the future of Kenya. Every Kenyan must be guaranteed of a future. To do so, I shall introduce a bill in parliament, which mandate every Kenyan to save 40% of their earnings (untaxed) in a special Government fund & do away with Tax on CAPITAL GAINS,” he tweeted.
Enough is Enough! We must change the future of Kenya. Every Kenyan must be guaranteed of a future. To do so, I shall introduce a bill in parliament, which mandate every Kenyan to save 40% of their earnings (untaxed) in a special Government fund & do away withTax on CAPITAL GAINS
— Sen. Ledama Olekina (@ledamalekina) December 16, 2019
With the high rate of unemployment being witnessed in the country, Ledama says that training should be done for the unemployed until they get a job.
The senator noted that Kenya has to build its own Human Resource to create jobs for her citizens.
“For those who don’t work we pay for their training until they get a job!! We must now build our Human Resource & Create Job’s for our Citizens! Watch this space! Inculcate self-reliance through work, not welfare,” reads his tweet.
For those who don’t work we pay for their training until they get a job!!we must now build our Human Resource & Create Job’s for our Citizens! Watch this space! Inculcate self reliance through work not welfare
— Sen. Ledama Olekina (@ledamalekina) December 16, 2019
A section of Kenyans has, however, expressed their discomfort in this, arguing that the saved funds will just be stolen by corrupt government officials, while others argue that their earnings are not enough to any saving out of it.
Some argue that to them, savings should be done after consumption yet what they earn isn’t even enough for consumption itself.
Savings is what is left after consumption ,how do we save if the income itself ain't enough for Consumption mhesh ?!
— Mesh™ © (@meshbiz9) December 16, 2019
I think a better route can be decided rather than a government fund savings for Kenyans.
The people's trust in this regime is close to null.— KenA (@kennedy_addero) December 16, 2019
Such a brilliant idea but I don't know of any country doing with this system and furthermore when individuals pull out their funds I think this might destabilize the currently as much as it is pulling together of resources.
— SILAS BWIRE (@SILASBWIRE) December 16, 2019
That is untenable in Kenya. Go have a walk to penison house and see how pensioners are harassed. Heri niweke pesa yangu kwa sportpesa kuliko kwa mkono ya hawa wezi.
— Adam Birik (@adambirik) December 16, 2019