[2] The proposed bill aims to raise 346 billion Kenyan shillings (KSh) to pay off debt and fund development projects.
The National Treasury was instructed to prepare supplementary estimates to reflect these reductions and limit spending to essential services.
[16][17][18] In 2023, the World Bank warned the plans would negatively affect economic growth,[19] though the IMF supported more reforms to remain compliant with the terms of the loan, necessitating similar further measures in the 2024 Finance Bill.
[20][21] Provisions of the bill that survived to the third reading included: Provisions of the bill removed or modified after protests included: An "Eco Levy", aiming to stop pollution and excess waste at the office/household level, which affects diapers, batteries/dry cells, smartphones, earphones, clocks, radios, TV sets, and cameras, as well as plastic packaging materials and a variety of other products,[24] was curtailed to only affect imported products.
[2] The second reading of the Finance Bill took place on 20 June 2024, where members of parliament voted on the general outline of the proposed law.