NAIROBI, Kenya, Jun 12 – Refresh this page for updates
4.10pm: The 2014-15 Budget statement concludes.
Central Government to work with counties to transform lives of Kenyans.
4.09pm: Kenya will invest in security, infrastructure and commercialise agriculture.
4.08pm: World economy recovering but not out of the woods yet.
4.06pm: Rotich urges MPs and public to join in building the Kenya we Want; it will require optimal exploitation of talent and potential of this great nation.
4.05pm: To amend Competition Act.
4.03pm: New Insurance Bill to be tabled in Parliament shortly.
4.01pm: Propose to introduce tax procedure law to make tax administration easier and reduce cost of compliance.
4pm: To review Income Tax Act.
3.59pm: VAT refunds backlog to be sorted out in a few months.
3.57pm: Exempted all imported inputs for preservation of seeds for planting.
3.56pm: Proposed to amend Income Tax Act to allow deduction of expenditure for trips made in Kenya at employers’ expense.
Increased duty rates on iron and steel products that are available locally from 0-10pc to 25pc to raise additional Sh2.6bn.
3.55pm: Rotich says steel mills closing down due to cheap imports.
Government to modernise tax laws in line with best practice
3.49pm: Rotich salutes faithful taxpayers who will mobilise 86.3pc of resources in 2014-15.
3.46pm: This translates to Sh100 million for every constituency for development.
3.45pm: Sh28bn for CDF and another Sh2bn for affirmative action for social development.
3.44pm: Sh226.7bn allocated to county governments as shareable revenue.
3.42pm: Sh8.1bm for recruitment and training of 21,000 youths to National Youth Service.
Uwezo, Youth and Women Enterprise Funds to be rationalised into one fund.
Facilitating expansion of credit access for women and youths
3.40pm: Kenya to revamp Numerical Machines Limited for railway parts and services.
Sh3bn allocated for leasing of healthcare equipment.
Sh4bn for free access for maternal healthcare by mothers.
Sh700mn for free access to basic healthcare.
Developing programme for healthcare upgrade with county governments.
Empowering infants and mothers to enjoy the right to live.
3.33pm: Allocating Sh17.4bn for e-learning including laptops for children and increasing capacity for teachers.
3.30pm: To enhance education, free tuition allocation for secondary schools increased to Sh22.8bn and for Free Primary Education to Sh13.5bn.
3.29pm: Rotich admits there are concerns on the quality of education
3.29pm – Sh9.5bn allocated for ongoing irrigation projects.
Rolling out a model farm covering 10,000 at Galana Ranch.
3.28pm: Agriculture best positioned to open opportunities across the country.
Sh1.65bn allocated for upgrading Kisumu and Isiolo airports and construction of new airports in, Mandera, Malindi and Suneka.
3.22pm: EACC and DPP to be strengthened to enhance economic crimes investigations and prosecution.
3.21pm: Rotich says government aims to deepen financial sector reforms to ensure competitiveness.
Key among these will be to operationalise the Nairobi International Financial Centre and introduction of new Central Bank of Kenya Bill.
3.20pm: Rotich says reforms to enhance revenue administration capacity and leveraging ICT to enhance tax compliance on course.
3.19pm: Rotich says budget allocation to consultancy, travel and hospitality to be curtailed.
3.18pm: Rotich says all government procurement to be done electronically in addition to new procurement law being submitted to Parliament.
3.15pm: Rotich says Government will continue to pursue policies that support low inflation.
3.13pm: Rotich says he has proposed to allocate Sh66.2bn for policing services and Sh17.4bn for NIS
3.12pm: Rotich says without security economy will not grow. Priority given to strengthening security.
3.10pm: Rotich says there are six critical thematic areas to address concerns raised by Kenyans to enhance business.
3.09pm: Rotich says Kenyans have responded well to Budget proposals to address insecurity, joblessness and wastage in public expenditure.
3.08pm: Rotich says growth prospects remain strong despite challenges posed by the election year, insecurity and devolution.
3.05pm: Rotich thanks Budget and Appropriations Committee under chairmanship of Mutava Musyimi for steering the process.
3pm: National Assembly Speaker Justin Muturi calls on National Treasury Secretary Henry Rotich to issue policy highlights for the 2014-2015 financial year.