MPs Slash Ruto’s 3% Housing Levy, Push Forward Implementation Date

Monday, June 12, 2023 – Following public outrage, the National Assembly Finance and Planning Committee has finally reached a conclusion that the Housing levy be reduced to 1.5 percent from 3 percent.

The statement was made on official social platforms of the ruling party on Monday Jun 12 where it read and confirmed that the housing levy in the proposed Finance Bill had been reduced from 3 percent to 1.5 percent.

“The Housing Fund contribution has been reduced to 1.5% from the proposed 3%.” the statement read in part.

To corroborate the statement, Orange Democratic Movement ODM Party Secretary General Edwin Sifuna asked Kenyans to see what significant changes the opposition was forcing to the defiant regime of William Ruto to make the changes.

“Tumepunguza sumu, sasa kuleni,” Senator Sifuna commented.

The National Assembly Finance and Planning Committee is recommending a slash of the levy after collecting views from Kenyans who submitted their opinionas regards the Finance Bill 2023 which contains the proposed housing levy.

Initially, the Treasury proposed a 3% deduction from every employee’s salary, to be remitted to the National Housing Fund, with employers matching the amount.

Other than reducing the levy, the committee also proposed to scrap the requirement for employers to match an employee’s contribution.

The MPs are also recommending postponing the implementation of the levy from June 2023 to January 2024.

The deferment will allow sufficient time to enact appropriate laws and establish a robust framework for the Housing Fund to reduce theft cases.