19. Public Finance Management Act, No. 18 of 2012

The statute provides for effective management of public finances by national and county governments; and oversight responsibility of Parliament and county assemblies.

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· The statute provides for the effective management of public finances by the national and county governments; the oversight responsibility of Parliament and county assemblies; the different responsibilities of government entities and other bodies.

· The Act provides that a public Fund (funded from the Exchequer) can only be established under the National Treasury-this certainly affects the setting up of Funds to support housing. Under section 12(g), it is the responsibility of the National Treasury to develop policy for the establishment, management, operation and winding up of public funds.

· Section 77 of the Act further empowers the Cabinet Secretary responsible for finance to waive or vary a tax, fee or charge imposed by national government and its entity in accordance with the criteria laid down provided the same is authorized by law. This power may therefore be employed in waiving or varying fees and charges that may influence house prices.