Nairobi — Agano Party presidential candidate David Mwaure on Tuesday pledge to roll out a far-reaching tax policy change in a bid to tackle the high cost of living in the country.

Mwaure said his government would slash the Pay As You Earn (PAYE) rate by 50 per cent and waive all accrued tax penalties.

“As far as I am concerned, we in Agano are already counting our 100 days in office and one of the things we want to address is the issue of exorbitant taxes,” he said.

Speaking during the presidential debate snubbed by Roots Party’s George Wajackoyah, who demanded to be included in the main debate, Mwaure said his government would manage with the projected decline of PAYE revenues to Sh230 billion down from Sh460 billion.

PAYE deductions generate about 25 per cent of locally-raised revenues in Kenya.

Mwaure also promised to review corporate tax which termed as a “big problem” that threatens to cripple businesses.

He also cited government bureaucracy and underhand dealings by government officials whom he accused of frustrating investors seeking to set up industries in the country.

Mwaure accused his competitors, without giving names, of being insincere about the fight against corruption.

He dismissed all his competitors — Wajackoyah, UDA’s William Ruto and Azimio’s Raila Odinga — saying having worked in government in various capacities, they had failed to demonstrate their ability to address the country’s pressing challenges.