Answer the questions in about 800 words

Question Description

INSTRUCTIONS:

Answers ALL Questions.

QUESTION ONE

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)

QUESTION TWO

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.

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