From the time The Finance Bill 2024 in Kenya started being discussed and even given a vote in Parliament, it has been a fiery season!
This document has sparked significant debate and concern across various sectors of society. Truly speaking, women in particular, have compelling reasons to be actively involved in the #RejectFinanceBill2024 movement. The reasons are endless, but I will try to summarize and urge you, dear reader, to walk with me.
1. Economic Impact on Households
- Increased Cost of Living: Any new taxes or financial policies introduced by the bill may disproportionately affect the cost of essential goods and services. Women, often the primary caregivers and managers of household budgets, will face greater challenges in stretching their resources to meet daily needs.
- Income Inequality: Women typically earn less than men, and additional financial burdens could exacerbate existing income disparities, pushing more women and their families into economic hardship.
2. Impact on Small Businesses and Informal Sector
- Women Entrepreneurs: Many women in Kenya, myself included, run small businesses or participate in the informal sector. The Finance Bill could introduce taxes or regulations that make it more difficult for these businesses to operate profitably. This would not only affect their livelihoods but also the broader economy, given the significant contribution of small businesses to Kenya's GDP. Kadogo economy could literally become even smaller!
- Job Losses: Increased operational costs could lead to downsizing or closures of small businesses, disproportionately affecting women who often occupy these roles. There is no end to the cascade of all the things these losses could lead to.
3. Access to Healthcare and Education
- Healthcare: Any reduction in government spending or increased taxation that limits access to affordable healthcare services will directly impact women, who require and procure regular healthcare for themselves and their children, as well as many who are in their care.
- Education: Women are often responsible for the education of their children. Higher costs due to new taxes could limit their ability to afford quality education, affecting the future prospects of the next generation. This, without bringing in the fact that the new education curriculum is already so mediocre.
4. Social Welfare and Support Services
- Government Programs: The Finance Bill may lead to cuts in social welfare programs that many women depend on, including child care, maternal health services, and social security benefits. Reduced funding for these programs could severely impact the well-being of women and their families. Bring back Linda Mama!
- Community Services: Increased financial pressure on non-governmental organizations and community groups providing essential services could lead to reduced support for women in vulnerable situations. Mutual aid and chamas are already at risk, there will be no safety net for people to fall back into, as the communities become more cash-strapped.
5. Political Representation and Advocacy
- Voice in Policy Making: Active participation in the #RejectFinanceBill2024 movement ensures that women's voices are heard in the political arena. Advocacy and collective action can influence policymakers to consider the unique impacts on women and potentially lead to more equitable financial legislation.
- Empowerment: Engaging in this movement empowers women to take charge of their financial futures and advocate for policies that support their economic and social well-being.
6. Long-Term Economic Stability
- Sustainable Development: Rejecting unfavorable financial policies is crucial for the sustainable economic development of the country. Policies that do not consider the needs and contributions of women are likely to fail in fostering inclusive growth and stability.
Conclusion
Women play a critical role in the economic and social fabric of Kenya. The Finance Bill 2024, with its potential to significantly impact the cost of living, small businesses, healthcare, education, and social welfare, demands active participation from women to ensure that their specific concerns and needs are addressed. By joining the #RejectFinanceBill2024 movement, women can help shape a more equitable and sustainable future for themselves, their families, and the nation as a whole.
Let us all #RejectFinanceBill2024 as a matter of urgency!
