It’s pain, tears and debt in Yatani’s budget

Treasury Cabinet Secretary Ukur Yatani holds up the briefcase containing the Budget for the 2020/22 financial year outside the Treasury building, Nairobi. [Elvis Ogina]

The cost of living is set to go up over the next 12 months as the National Treasury raids your pockets through increased taxes in a bid to shore up dwindling revenues.

Among the tax measures that Treasury has proposed are expected to result in an increase in the cost of bread, baby formula and cooking gas, which have been slapped with Value Added Tax.

It will also cost you more to buy a motorcycle, with importers of the popular mode of transport now required to pay excise duty at a rate of 15 per cent compared to a flat rate of Sh11,608 currently.