Budget briefcase during the presentation of the 2024/25 estimates on June 13, 2024. [Samson Wire, Standard]
The government might have to further cut down its spending after the Court of Appeal yesterday declared the Finance Act 2023, unconstitutional.
This comes barely a month after President William Ruto yielded to public pressure and withdrew the Finance Bill 2024, following countrywide protests.
The rejection of this year’s Bill has seen the National Treasury unveil a leaner Budget, cutting spending on some non-essential areas while increasing the amount that it plans to borrow to bridge the gap between expenditure and revenues.
But the Treasury may now be forced to make more adjustments.
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