Leader of Minority Mbandi Ngongo has said the business community in Kenya was composed of bandits and urged the Government to reign in on cartels.
Speaking during a debate to legalise a drop in VAT from 16 to 14 per cent, Ngongo said traders were now blood sackers who care less about the welfare of the people.
“Wherever taxes are reduced, traders do nothing. But they increase prices wherever taxes go up. They are blood sackers”; Ngongo said.
He said the crisis precipitated by Covid 19 to the economy is the worst ever, adding that this was not time for profiteering.
All MPs supported the bill which was expected to easily sail through parliament.
VAT threshold will drop to 14 percent from the current 16 percent as ordered by President Uhuru Kenyatta two weeks ago.
Effectively, this means goods and services which fall under the VAT threshold will go down by 2 percent.
Leader of Minority in Parliament Mbandi Ngongo said the country was staring at an economic crisis worth than the Post Election Violence crisis witnessed in 2007- 2008.
The Public Finance Bill was debated yesterday by Parliament.
Ngongo termed Kenya”s business community as bandits, saying that they never reduce the price of goods whenever VAT went down.
