Bankers in Kenya have called on President Ruto to reduce PAYE tax by five percent for all workers. The request comes as part of broader economic reforms aimed at stimulating local production and job creation. Molenje, a key figure in the financial sector, emphasized the need for the government to prioritize three main objectives: boosting domestic output, generating more employment opportunities for Kenyans, and restoring public confidence in governance.
The proposal follows growing concerns about the impact of high taxation on consumer spending and business investment. With inflation rising and economic growth slowing, many experts argue that reducing the tax burden could help stabilize the economy. The call for a tax cut aligns with recent discussions in the government about fiscal reforms to address economic challenges.
Kenya has faced economic pressures in recent years, including currency depreciation and reduced foreign investment. The push for tax relief reflects a broader trend among business leaders to advocate for policies that support local industries and employment. While the government has not yet responded to the proposal, the debate highlights the increasing role of private sector voices in shaping economic policy.
