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Principles of public finance
Chapter Twelve - Public Finance
Article 201. Principles of public finance

The following principles shall guide all aspects of public finance in the Republic--
(a)   there shall be openness and accountability, including public participation in financial matters;
(b)   the public finance system shall promote an equitable society, and in particular—
          (i)     the burden of taxation shall be shared fairly;
         (ii)     revenue raised nationally shall be shared equitably among national and county governments; and
        (iii)     expenditure shall promote the equitable development of the country, including by making special provision for marginalised groups and areas;
(c)   the burdens and benefits of the use of resources and public borrowing shall be shared equitably between present and future generations;
(d)   public money shall be used in a prudent and responsible way; and
(e)   financial management shall be responsible, and fiscal reporting shall be clear.

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