- Answers ALL Questions.
According to the principles of public finance of Kenya, “The public finance system shall promote an equitable society, and in particular;
- The burden of taxation shall be shared fairly;
- Revenue raised nationally shall be shared equitably among national and county governments; and
- Expenditure shall promote the equitable development of the country, including by making special provision for marginalised groups and areas;
Discuss the above three in line with the Kenya Government National budget of 2019/20 financial year. (15 marks)
With specific references, explain how the government of Kenya promotes the following principles of public finance; (15 marks)
- Public money shall be used in a prudent and responsible way
- Financial management shall be responsible, and fiscal reporting shall be clear.