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Gloomy faces as Uhuru signs Finance Bill into law

President Uhuru Kenyatta has signed into law Finance Bill, 2018 which was passed by the National Assembly in a chaotic debate on Thursday.

In a Twitter post on Friday, Mr Kenyatta, who whipped Jubilee MPs to ensure the bill that raises the cost of living is passed, vowed to ensure proper use of public funds.

“I give my commitment that I will ensure proper utilisation of public resources for a better Kenya. I will not relent on the war against Corruption,” he said.

Present during the signing of the bill at State House, Nairobi, were Deputy President William Ruto, National Assembly Majority Leader Aden Duale and Head of Public Service Joseph Kinyua.

Others were National Treasury Cabinet Secretary Henry Rotich, Attorney General Paul Kihara Kariuki, Principal Secretary Kamau Thugge and Solicitor General Kennedy Ogeto.

The House on Thursday endorsed the presidential reservations on the bill, giving Mr Kenyatta the chance to raid Kenyan’s pockets to plug holes in his nearly Sh3-trillion budget.

With the victory, the Executive has the power to raise up to Sh130 billion through the eight percent levy on fuel products that will see about Sh17.5 billion realised from sugar confectioneries (Sh475 million), money transfers (Sh11.4 billion), betting companies and winners (Sh30 billion), housing fund (10 billion) and kerosene (Sh9.8 billion).