The Impact: How the Finance Act will affect personal budget

The converged Standard newsroom. [Stafford Ondego, Standard]

On Monday, July 3, from 6:00pm to 11:00pm, KTN News will broadcast a discussion on the effects of already implemented sections of the Finance Act 2023/24.

This being the third day since the law was signed, the broadcast dubbed ‘The Impact’ will focus on how it has affected individuals, SMEs and employers.

Some of the sections that have been implemented include the 16 per cent value-added tax on fuel which has now hiked fuel prices to Sh195 per litre.

Employees will start getting the 1.5 per cent salary deduction under the housing levy.

“What we are doing is helping Kenyans understand the impact of the new finance law because it has really heavy impacts. We will also go beyond and try to see whether Kenyans can get some help on how to adjust and cope with the new realities of the law,” said Kizito Namulanda, Managing Editor, Broadcast.

“We want Kenyans to know the real implications the law will have on their unique individual budgets. To this effect, KTN News will have experts on set who will tell you how to cut on your expenditure,” added Ken Mijungu, Deputy Broadcast Managing Editor.  

The contentious Finance Bill became law, its implementation now hangs in the balance thanks to the courts but one way or another it will eventually come to pass. So what should you know about it? Join the biggest conversation on TV from 6pm #TheImpact@Ali_Manzu @KenMijungu pic.twitter.com/H0ZNM3lLDX — KTN News (@KTNNewsKE) July 3, 2023

These are among the issues that will be covered from four studios located at the Standard Group headquarters as well as through social media using the hashtag, #TheImpact, where social media views will be collected.

The studios will host guests from different segments of the country including experts, employers, employees and common mwananchi.

Some of the experts to be expected are Habil Olaka who is the Chief Executive Officer for Kenya Bankers Association, chair of the Finance Committee Kimani Kuria, Oxfam Kenya Executive Director John Kitui and Waithaka Gatumia, Centonomy’s CEO.

They will be joined by employers from a different studio among them being Richard Muteti, Chairman of Juakali Association and Johnson Mbugua who is the Moov Café & Bistro’s Managing Director.

Another studio will host employees including Tomkins Baraza who is a teacher, Dr Charles Mukhwaya and Kevin Osido, the County Governments Watch Executive Director.

In addition, KTN news will be live in major counties namely Nairobi, Nakuru, Kisumu, Kakamega and Mombasa where people on the ground will be asked to raise their views.