Madam Deputy Speaker, the MF is pleased with the introduction of this Bill and the clarity it offers regarding municipal powers, in terms of fiscal powers and functions. However, in view of the local business community, the MF feels that some form of consultation should take place concerning the local municipalities, if and when the Minister may introduce a tax on local businesses, in line with clause 4.
In view of clause 5, we feel that it may impede the rights of local government. Efforts should be made to look at shortening the time in which the Minister would inform municipalities and the prescription of regulations.
We are also concerned that if we are to encourage the growth of our economy, the development of local business and the invitation to potential business, then we should not overburden businesses with taxes. In view of this, national tax already exceeds the recommended 25% and the MF thinks that no more tax burden should be placed on business. The MF will support the Bill. I thank you.