Jubilee pledges could overburden taxpayer

The best argument against the famous ‘laptop to every Class One pupil’ is the current government debt which will definitely be inherited by the Jubilee regime, if the CORD petition doesn’t sail through the courts.

These gadgets among other fancy stuff promised are non-priorities which will only plunge the country into further debt and dependency on foreign aid.

Latest statistics from the Central Bank reveal that borrowing from the domestic market alone is inching close to Sh1 trillion. This amount later accrues interests, which are offset by the same taxpayer who is grappling with a high cost of living.

As if that is just a tip of the iceberg, over the last eight months debt arising from increased interest rates on Treasury Bills and Bonds (through which the Government borrows from the domestic market) have risen by a staggering Sh20 billion.

Basic business knowledge should inform President-elect Uhuru Kenyatta that the first step to creating a vibrant economy that benefits all is by reducing Government expenditure while increasing revenue. That is the primary goal of every manager.

The wage bill and Government spending are unsustainable. I do not trash Uhuru’s aspirations and promises to wananchi, but one clear thing about them is they are outright ambitious and costly to a struggling economy.

{Joshua Nyachieo, Kisii}