BREAKING: The William Ruto govt is about to pull one of the most selfish financial tricks of his presidency.
A move designed not just to collect the Housing Levy.
But to make sure Kenyans keep paying it for years to come, and no other president in the near future removes it. (Securitization)
Here's the plan.
His government, according to NTV, plans to borrow about KSh150 billion from local and international banks.
The security?
YOUR future Housing Levy payments. So they want to go collect 150 billion and use future housing levy payments as security. (securitization)
This means that if the next government removes the housing levy, Kenya will default on the loan taken by the Ruto government.
Let that sink in.
The government gets KSh150 billion immediately this year.
The money is spent immediately.
But Kenyans remain trapped paying the levy for years afterwards.
This is not an accident.
This is the whole point.
Opposition leaders have repeatedly promised to abolish the Housing Levy.
So what does Ruto's government do?
It moves to tie the levy to a massive loan so that future governments will find it far harder to remove.
In short:
The cash stays with Ruto's administration; they get it and use it before elections.
The bill stays with Kenyans for years
The burden is pushed into the future.
And if the loan is backed by many years of future levy collections, millions of Kenyans could find themselves paying 20 yrs later for a decision long after this government is gone.
That is why this is so selfish.
I warned earlier this year that the new Ruto levies were not just about raising money.
They were about creating assets that could be used to secure more borrowing.
Now we are seeing exactly why.
The question every Kenyan should ask is this:
This is completely evil. We reject all attempts to securitize the Housing Levy.
@HonAdenDuale https://t.co/O2KAL7eYuj
Preacher of water on one side and taker of hypocrisy on the other endπ
Hardly has a day passed since you said in parliament that your ministry (and the govt) won't consult the public but now you want public participation since there isn't US bills
@GideonKimaiyo_ Since you must compare everything with what the previous regime did.
My question to you bwana horrible or is it honourable π€
Did the US come knocking with dollar bills (at the tune of Sh34 per Kenyan btw) to his doorstep?
#ebola#KenyaDecides2027#GoonsNation#UnPresidential
@DrDennisOuma It seems that the allele of stupidity was not recessive when it came to you bwana "daktari"
π
So the rampant strikes experienced in highschools back in 2016 was also from the Agikuyu community π€
#GoonsNation
@Broadbasedgal Safe skies Ang'oa βοΈβοΈππ
A bird strike at the least would deliver us from the Hell he's put us in πΆββοΈπΆββοΈ
That front page obituary doesn't sound bad plus the extra holiday since the next one ni Hadi October π
#KenyaDecides2027#GoonsNation#UnPresidential#Wantam
@abrahamkir5517 The train was launched a few days ago and it has already claimed three lives
π
Mnatuletea mashetani in the name of development π Guok!!
#wantam is inevitable πΆββοΈ
#KenyaDecides2027 π³
@Kenyans https://t.co/TpZ4Y0mnp0
Beefing up their power to go against Kenyan's right to privacy π
Just the other day Aljazeera showcased how the kafment keeps tabs on unsuspecting citizens, kidogo Tunaskia wanaingia mpesa kuokota tax huko
EVERYTHING WRONG IS THIS GOVT π°πͺ
#GoonsNation
@RobertAlai If that helps you sleep tonight then well and good but since we are comparing the two presidents
Who has gone against the high court's order against the establishment of the said facility if not your goon president π€
We've been sold for 34 shillings a Kenyan FFS
Tumia akiliπ
@USForeignAssist It is funny how a so called "supper power" can't respect sovereignty of another country's court system π
Just a bunch of child molesters and country invaders crusading around all high and mighty
#ebola#wantam#UnPresidential
@mts__kid Don't throw stones when you don't have full context of how the ground isπNYS and ASTU are closest to Utumishi Girls so if it is a matter of first responders it should be them and not KDF