When Principal Secretary National Treasury Chris Kiptoo, former Cabinet Secretary Njuguna Ndungu and Principal Secretary Economic Planning James Muhati took a photo before the 2024/25 budget presentation on June 13, 2024. [Samson Wire, Standard]

President William Ruto faces the reality of having the Finance Act 2022 as the most recent major money law but one that cannot assist his administration in raising more tax revenue.

This was the last money law drafted and passed in the final days of President Uhuru Kenyatta’s tenure in the months leading upto the August 2022 General Election.

At the time, Kenyatta’s administration was under heavy fire from Ruto, the then deputy president who was fighting it out with Azimio leader Raila Odinga for the presidency. The tax riddle was the bone of contention and Ruto’s corner hit at Kenyatta at every point for imposing high tax rates on Kenyans at a time they could ill afford it.

Ruto, sworn into office on September 13, 2022, implemented the Finance Act 2022 for the better part of his first year as president although he had little to do with its crafting.

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